Monday, September 2, 2013

PSALM readies Sucat plant’s sale

Manila Bulletin 
By Myrna M. Velasco 
Published: September 2, 2013
In the continuing privatization of the government’s power assets, the next in the auction block will be the decommissioned 850-megawatt Sucat thermal power facility.
In an Office Order issued this August 28, Power Sector Assets and Liabilities Management Corporation (PSALM) Emmanuel R. Ledesma Jr. has created the technical working group (TWG) that will work on privatization preparations for the idled power facility.
He directed the team “to prepare the transaction documents, as well as assist the Privatization Bids and Awards Committee (PBAC) in the resolution of all legal, technical, financial, contractual and other outstanding issues.”
The working group will be led by PSALM asset valuation department manager Lorenzo L. Jacinto II. The TWG members will be corporate staff officer Amando S. Yanga; power management specialist Allan B. Lauan; corporate staff officer Katrina Frances M. Domingo; corporate attorney Caroline B. Atencia; division manager Virginia C. Reyes; and finance specialist Lady Arriane D. Lopez.
The team has been tasked to “establish the privatization timeline and formulate the agency appraisal report” as well as the bidding procedures.
A consultation with stakeholders has also been proposed, especially if this will aid PSALM in ascertaining the best “asset sale mode” that will be carried out for the mothballed facility.
The TWG will similarly “compile and present data to allow PSALM to establish the reserve price for the asset.”
The Sucat thermal plant, which was retired years back, has repeatedly been proposed to go in for a fuel shift into gas-fired facility.
The plan of the government to push forward the long-delayed 105-kilometer Batangas-Manila pipeline project has been looking at the converted Sucat plant as prospective anchor load. The capacity being set in blueprint is at least 600 megawatts.
Previous studies however indicated that it might be more expensive to convert the existing plant as compared to setting up a greenfield gas-fed plant.   source

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