FIRST Gen Corp. has secured bidding documents for the privatization of the Caliraya—Botocan—Kalayaan (CBK) hydroelectric power plant complex in Laguna.
“We’re interested in (CBK) because we have recently finished Casecnan (acquisition.) To the extent we can increase our hydro facilities and CBK, obviously, is a pump storage (hydro facility). It will enable more renewable energy to come online,” Francis Giles Puno, First Gen president and chief operating officer, told reporters in a chance interview in Albay last week.
Puno said First Gen advocating for more investments in clean and renewable energy as part of support to the government’s policy to meet the target of 35 percent RE mix by 2030 and 50 percent by 2040.
“It’s a challenge but I think we’re up for the challenge as First Gen to support the initiatives of the government,” Puno said.
The Power Sector Assets and Liabilities Management Corp (PSALM) aims to privatize the CBK hydroelectric power plant complex this year.
