Aboitiz Power Corp. has expressed interest in taking part in the privatization of the Caliraya-Botocan-Kalayaan (CBK) hydropower plants in Lumban, Majayjay, and Kalayaan in Laguna.
The CBK hydroelectric power plant complex, which includes three facilities with a 796.64-megawatt (MW) capacity, is a leading player in the Luzon power system. Aboitiz Power is one of 29 companies that expressed their interest in the power plant complex.
According to a report by the Manila Standard, Aboitiz Power President and Chief Executive, Emmanuel Rubio, said that the company intends to maintain the availability and efficiency of its diverse range of power plants while also expanding through incorporating additional capacities.
Rubio also said that Aboitiz Power believes in maximizing the advantages of technology as an integral part of achieving affordable and sustainable energy security.
Aboitiz Power is looking to complete five renewable energy power plants, with a 684-MW total capacity by 2024 or early 2025.
These power plants include a 17-MW geothermal power plant in Albay, a 159-MW solar plant and an 85-MW solar plant in Pangasinan, a 173-MW solar plant in Negros Occidental, a 44-MW plant in Tarlac, and a 206-MW wind plant in Northern Samar in partnership with Vena Energy and Vivant Energy.
The power distribution company has previously declared that they expect to inaugurate a series of renewable energy projects this year, including a 212-MW solar plant in Zambales, a 50-MW wind project in Camarines Sur, and the 102-MW Rizal-Laguna partnership project with Vena Energy.
Aboitiz Power currently has nearly 1,000 MW of upcoming renewable energy projects and targets to construct a minimum of 4,600 MW within the next decade.