Philippines seeks private funds to fix Agus-Pulangi complex

The Philippine government is considering a public-private partnership (PPP) to rehabilitate the Agus-Pulangi hydropower complex after privatizing the CBK plants. This move aims to modernize the aging facilities. The Power Sector Assets and Liabilities Management Corp. (PSALM) is procuring a transaction advisor to explore PPP options for the 1,001-megawatt Agus-Pulangi complex. The World Bank is also involved, potentially providing a grant for project preparation. The Agus-Pulangi complex, facing technical issues, currently operates at reduced capacity. The rehabilitation, previously considered for World Bank loans, is now leaning towards a PPP model to restore full capacity.