PSALM and Cleanergy 9 Power Inc (the Project Company) signed the purchase agreement for the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plants on 14 August, marking the commercial close of the project.
Synergy Consulting, Inc., acting as the Financial Advisor, is proud to have supported the Asian Development Bank (Transaction Advisor) and the Power Sector Asset and Liabilities Management Corporation (PSALM) in the successful commercial close of the project. The Project was procured by the PSALM with support from the Asian Development Bank (“ADB”).
The financial advisory group supporting the project includes Synergy as the Lead financial advisor and Reyes Tacandong & Co. as the Accounting and Tax sub-consultant to Synergy.
This milestone comes after the declaration of the Thunder Consortium—comprising Aboitiz Power Renewables Inc, Sumitomo Corporation, and J-POWER, as the winning bidder on 04 July, with a winning bid of PHP 36.266 billion purchase price.
The asset transfer is scheduled to take place in February 2026.
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