By Lenie Lectura - November 21, 2018
ABOITIZ Power Corp. and AC Energy
Inc. are keen on participating in the planned auction of the Power Sector Assets
and Liabilities Management Corp.’s (PSALM) remaining independent power producer
(IPP) contracts.
“Any opportunity to participate in
that kind of transaction, we’re open,” Aboitiz CEO Erramon Aboitiz said.
Aboitiz was referring to PSALM’s
contracted capacities with IPP plants, namely Caliraya-Botocan-Kalayaan
hydroelectric power plants, Mindanao coal-fired thermal power plant, Casecnan
multipurpose project, Unified Leyte geothermal power plant and the Mindanao I
and II geothermal power plants.
AC Energy President Eric Francia
said the power arm of conglomerate Ayala Corp. “will probably take a look at
it.”
“That’s not core to our strategy,
but we will look at it a minimum,” he said.
Early this month, PSALM announced it
would tap consultants to determine the best privatization approach for the IPP
plants.
The approved budget for the contract
is P22.66 million, provided in the 2019 Corporate Operating Budget of PSALM.
“PSALM will evaluate the most
beneficial and feasible privatization options and structures for its
remaining IPP contracts through the assistance of a third-party
consultant,” PSALM said.
Specifically, the winning firm is
tasked to study the technical, contractual, legal, commercial and
plant-specific issues affecting the IPP contracts, review relevant agreements
and applicable laws, conduct consultations with concerned agencies, and private
entities, and conceptualize technical, financial and legal frameworks for the
proposed privatization options and structures.
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