Sabin Aboitiz has secured a USD642 million deal for the Caliraya-Botocan-Kalayaan (CBK) hydroelectric project, marking a key moment in the Philippines’ renewable energy expansion. The CBK facility, the largest pumped-storage hydro plant in Southeast Asia, is set to play a central role in reducing the country’s fossil fuel dependence, which still accounts for over 60 per cent of its power generation.
This move reflects a broader trend among Filipino business giants who are increasingly investing in clean energy infrastructure. With high-stakes investments and strategic collaborations, these businesses aim to accelerate the country’s shift to renewables and potentially ease electricity costs for consumers. The CBK project signals strong private-sector confidence in the feasibility and profitability of green power.
