MANILA, Philippines — President Ferdinand Marcos on Monday witnessed the privatization of the Caliraya-Botocan-Kalayaan Hydroelectric Power Plants (CBK HEPP), an initiative which seeks to push the country’s use of renewable energy. In his speech, Marcos said that the CBK HEPP not only helps narrow the power gap but also reflects robust investor confidence in the energy sector. “This privatization reflects investors’ confidence in the direction of our country’s energy sector,” he said. “It also demonstrates once again how strategic public-private collaboration transforms investment in essential infrastructure into reliable, everyday services that people can trust.” The long-term stewardship of the facilities now falls under Thunder Consortium comprised of Aboitiz Renewables Inc., Sumitomo Corp., and Electric Power Development Co., Ltd. Located across the municipalities of Lumban, Majayjay, and Kalayaan in the province of Laguna, the CBK HEPP is composed of the Caliraya hydro plant in Lumban, the 22.91-megawatt (MW) Botocan hydro plant in Majayjay, and the 366 MW Kalayaan I and 368.36 MW Kalayaan II pumped storage plants. The President said he is confident that both the CBK Complex and the public-private partnership will help power a more secure, stable, and forward-looking future for the Filipino people. “With this privatization, completed through the successful bid of over P36.27 billion, the government is able to unlock significant resources while ensuring the continued operation of a strategically important energy asset,” Marcos said. “In doing so, the government can invest where it matters most— in our people. Particularly, these resources can be directed towards the immediate needs of the public, such as for classrooms, for roads, and for hospitals. And as we continue to diversify our energy sources, facilities like CBK help support renewable energy integration into the grid,” he added.