By Alena Mae S. Flores | Posted on July 24, 2012 | 12:01am
The Power Sector Assets and Liabilities Management Corp. is lining up the privatization of four power barges next month, one of the stop gap measures to forestall an energy crisis in Mindanao.
“We are confident that interested investors will find match in the assets that PSALM is privatizing under the terms that we have adopted,” PSALM president Emmanuel Ledesma said.
Four investor groups have submitted letters of interest over the sale of diesel-fired Power Barge 101, 102, 103 and 104.
The four firms attended the pre-bid conference held by PSALM on procedures and transaction documents covering the asset sale.
Ledesma declined to comment on whether the price of the power barges will be influenced by the government’s decision to transfer the barges to Mindanao.
“The final outcome is up to the bidders,” he said. “We cannot speculate how the bidders will value the transfer of the barges to Mindanao but PSALM does not require the bidders to disclose those strategies.”
Ledesma gave no indication on when the barges would be moved keeping in mind that power shortfalls in the south are anticipated during summer next year.
“The timeline of the transfer will have to be determined in consultation with Secretary (Jose Rene) Almendras,” he said.
The sale of the power barges consists of three sets: Package 1 combines barges 101 and 102; Package 2 covers barge 103; and Package 3 has barge 104 which is berthed at the Holcim Compound, Barangay Ilang, Davao City.
The rules require bidders to submit offers for each of the three packages. A condition for the sale of the power barges now stationed in the Visayas is for them to be transferred to augment Mindanao’s power supply.
According t6o Ledesma, bids must must be submitted not later than Aug. 15, 2012, at 12 noon, with the evaluation of bids to follow immediately.
PSALM has the option to enter into a negotiated sale should the auction fail, noting that the bidding is being held for the second time.
The first round held last May 16 was declared a failure after only one bidder came up with an offer.
Commissioned in 1981, barges 101 and 102 are moored in Barangay Obrero in Iloilo City. Barge 103, which began operation in 1985, is in Botongon, Estancia, Iloilo. source
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