Thursday, October 23, 2014

Angat plant turnover set

Business World Online
Posted on October 23, 2014 10:26:00 PM

THE GOVERNMENT is scheduled to officially turn over the 218-megawatt privatized segment of the Angat hydroelectric power plant to Korea Water Resources Corp. (K-water) next week, an official said on Thursday.

Emmanuel R. Ledesma, Jr., president of the Power Sector Assets and Liabilities Management Corp. (PSALM), said a ceremonial event for the sale of the asset will be held next week.

“Everything is agreed upon already. We’re going to have the closing ceremony on Oct. 31,” Mr. Ledesma told reporters yesterday.

The official said the facility will be sold at a price less than the $440.8-million original bid price of K-water, which proposed to reduce the bid price to $439 million due to results of the plant capacity testing.

The 246-MW Angat plant -- located in Norzagaray, Bulacan -- consists of four main units with 50-MW capacity each and five auxiliary units with a combined capacity of 46MW. K-water has the rights to own and operate the 218-MW portion of the power plant -- consisting the main units and the first three auxiliary units with 18-MW total capacity. -- CAMCF   source

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