The Power Sector Assets and Liabilities Management Corp. (PSALM) is reviewing two rehabilitation proposals for the Agus-Pulangi Hydropower Complex (APHC) and may approve one in 2027.

PSALM President Dennis Dela Serna said the agency received three unsolicited proposals from major local firms but rejected one. He declined to name the proponents or disclose the proposed rehabilitation cost.

Speaking on the sidelines of the turnover ceremony of the Caliraya–Botocan–Kalayaan (CBK) Hydroelectric Power Plants to a private consortium on Monday, Dela Serna said evaluation and negotiations are ongoing, making approval unlikely this year.

“There’s a timeline under the PPP (public-private partnership) Code so we definitely will follow the PPP code timelines,” he said.

PSALM aims to restore APHC’s full capacity of about 1,000 megawatts (MW).

Currently, only 600 to 700 MW are operational as not all seven run-of-river hydropower facilities are functioning. (PNA)