November 23, 2012, 4:56pm
The management of the Power Sector Assets and Liabilities Management Corporation (PSALM) has proposed the rebidding of the power barges which are being planned for relocation to help solve the power supply crisis in Mindanao.
According to PSALM president Emmanuel R. Ledesma Jr., “the direction on the barges will be given by the Board at the next board meeting.”
The management reportedly discussed it in a meeting Thursday, but it will have to be referred to the Board first for new round of go-signal for the auction.
The company tried selling the barges this year, but even after three rounds of bidding, the assets were not able to ignite as much interest.
In the last round of auction, the only firm which put up an offer was Trans-Asia Oil and Energy Development Corporation. Yet even in the negotiated sale phase, the parties failed to reach an agreement primarily on the sale price.
If the facilities will be re-offered though, Trans-Asia president Francisco L. Viray has indicated to media that they might still consider joining the rebid process.
The divestment as well as the required relocation of the power barges is being lined up by the government to partly shore up the energy-starved southern grid.
Investors previously raised that the relocation of the facilities will be difficult to implement if the issue of market or off-takers (capacity purchasers) cannot be addressed.
Additionally, the permitting processes would be another hurdle wherein government’s help would be direly needed if only to facilitate the transfer at least three of the four power barges being sold.
Aside from the power barges, the company has also been tapping the capacity of the embedded generators as something that will add up to the grid’s supply.
The other solution will delve with the re-powering of the 100-megawatt Iligan diesel power facility, which was finally given approval by the Commission on Audit (COA) to be sold to Alsons group. (MMV) source
According to PSALM president Emmanuel R. Ledesma Jr., “the direction on the barges will be given by the Board at the next board meeting.”
The management reportedly discussed it in a meeting Thursday, but it will have to be referred to the Board first for new round of go-signal for the auction.
The company tried selling the barges this year, but even after three rounds of bidding, the assets were not able to ignite as much interest.
In the last round of auction, the only firm which put up an offer was Trans-Asia Oil and Energy Development Corporation. Yet even in the negotiated sale phase, the parties failed to reach an agreement primarily on the sale price.
If the facilities will be re-offered though, Trans-Asia president Francisco L. Viray has indicated to media that they might still consider joining the rebid process.
The divestment as well as the required relocation of the power barges is being lined up by the government to partly shore up the energy-starved southern grid.
Investors previously raised that the relocation of the facilities will be difficult to implement if the issue of market or off-takers (capacity purchasers) cannot be addressed.
Additionally, the permitting processes would be another hurdle wherein government’s help would be direly needed if only to facilitate the transfer at least three of the four power barges being sold.
Aside from the power barges, the company has also been tapping the capacity of the embedded generators as something that will add up to the grid’s supply.
The other solution will delve with the re-powering of the 100-megawatt Iligan diesel power facility, which was finally given approval by the Commission on Audit (COA) to be sold to Alsons group. (MMV) source
No comments:
Post a Comment