The Government of the Philippines has received three proposals to rehabilitate and operate the 1,000 MW Agus–Pulangi Hydropower Complex (APHC) in Mindanao under a long-term public–private partnership (PPP) concession. According to Power Sector Assets and Liabilities Management Corporation (PSALM), two bids remain under evaluation as authorities move to restore the ageing complex to its full installed capacity.
The Agus–Pulangi system, originally developed in the 1950s and operated by National Power Corporation (NPC), consists of a chain of run-of-river hydropower plants designed to deliver up to 1,000 MW of renewable electricity. Due to equipment deterioration, current output has declined to around 600–700 MW. Full rehabilitation is expected to extend plant life, improve grid stability in Mindanao and reduce reliance on fossil fuel generation. At full capacity, the complex could supply electricity to an estimated 3.3 million households.
The proposed concession aligns with the Electric Power Industry Reform Act (EPIRA), which mandates PSALM to privatise government-owned power assets and use proceeds to settle NPC liabilities. Momentum for the APHC offering follows the recent USD642 million transfer of the Caliraya-Botocan-Kalayaan (CBK) hydropower facility to a private consortium, reinforcing investor interest in large-scale renewable energy assets in the Philippines.