BIZ BUZZ: Thunder for the CBK win
With a winning P36.266-billion bid, the Aboitiz-led Thunder Consortium is poised to get the “notice of award” for the massive Laguna hydroelectric power plant complex.
In a quick chat with the Inquirer, Dennis Edward Dela Serna, president and CEO of the Power Sector Assets and Liabilities Management Corp., said they were ready to drop the award declaration today, July 18.
Experts branded this as a “significant win” for the group, as it is all set to take over the 796.64-megawatt Caliraya-Botocan-Kalayaan (CBK) power plants.
Some onlookers quipped that Lopez-led First Gen may have outsmarted Aboitiz Power as its offer was only P19.616 billion—way, way lower than the upper estimate of the Asian Development Bank at P33.8 billion.
Even so, CBK is a major addition to Aboitiz Power’s name, with its renewables portfolio surging ahead.
However, analysts said managing the CBK complex won’t be as easy as 1-2-3, since it would also compete with younger plants.
But with financial muscle and equally established firms Sumitomo Corp. and Electric Power Development Co. joining the consortium, we think they’re more than equipped for the challenge.
