State hydro assets could yield up to P126B
The government is confident it can meet its P101.5-billion privatization revenue target next year, with proceeds from the Caliraya-Botocan-Kalayaan (CBK) hydroelectric facilities and the planned sale of the Agus-Pulangi complex expected to provide a major boost.
Finance Undersecretary Michael Alejandro told reporters most of next year’s privatization revenues would come from public-private partnership (PPP) projects, including the CBK and Agus-Pulangi hydropower assets.
The Privatization and Management Office (PMO), which Alejandro heads, is expected to contribute a relatively smaller portion of around P800 million to P1 billion.
According to the Department of Finance’s website, the PMO has more than 100 government-owned properties available for disposition.
Latest figures show the Development Budget Coordination Committee (DBCC) raised the government’s privatization revenue program for next year to P101.5 billion from the original P1.5 billion.
This is more than double the revised P38-billion privatization program for 2026, which was reduced from the original P101 billion.
“The CBK proceeds will come in next year. That’s why the program for 2026 was lowered. CBK was supposed to come in this year. It’s an accounting thing,” Alejandro said.
“The transaction is done, but because it’s through the Power Sector Assets and Liabilities Management Corp. (Psalm), the remittance to the National Treasury is next year,” he said, adding that “we’re also targeting Agus-Pulangi next year.”
The CBK hydroelectric power complexes in Laguna and Quezon were awarded in 2025 to Aboitiz-led Thunder Consortium for P36.27 billion.
The Agus-Pulangi complex, which is also under Psalm, consists of seven run-of-river hydroelectric power plants in Mindanao. This is expected to generate around P40 billion to P90 billion in revenues.
Together, the CBK and Agus-Pulangi assets could raise a total of P126.27 billion for the government.
For 2026, Alejandro said the PMO remains confident of meeting its revised P38-billion privatization revenue target, with several big-ticket assets still in the pipeline.
These include the Food Terminal Inc. Complex in Taguig City, valued at roughly P20 billion and the Mile Long Complex in Makati City, valued at about P10 billion.
