Published
By Myrna M. Velasco
State-run Power Sector
Assets and Liabilities Management Corporation (PSALM) has re-scheduled to
January 7, 2019 (Monday) the bidding for consultancy services on drawing up the
valuation for the soon-to-be-privatized 650-megawatt Malaya thermal power
plant.
PSALM is targeting to
privatize the Malaya plant first half of 2019 – and the mode of divestment
entails straight sale of the power plant asset and the property where it is
sited.
The valuation to be drawn by the consultant will be highly significant because
this will be prescribed as the “reserve price” in the Malaya asset’s bidding.
In its tender notice,
PSALM stipulated that “sealed proposals must be addressed and delivered to the
chairperson” of the company’s bids and awards committee.
“The minimum required
technical score is 75 percent. The consultant with the highest rated and responsive
proposal shall be awarded with the contract,” the company said.
PSALM primarily
required that the targeted consultant shall have “experience in a financial
valuation of a government or private-owned generating power plant, plant
machineries or IPP (independent power producer) contracts in the Philippines or
other foreign jurisdictions.”
The consultant must
have also gained experience in a feasibility study of power plant assets;
possesses expertise in tariff assessments and projections; has technical and
financial prowess on appraisal of real estate assets, structures and
machineries; as well as competency in electricity market pricing dispatch.
On valuation of the Malaya plant’s site, PSALM chiefly requires that the
consultant is a licensed real estate appraiser in the Philippines – “or has the
appropriate permits or license to practice their appraisal profession in the
Philippines.”
As PSALM expects the
consultancy services to be rendered may be carried out by parties within joint
venture (JV) tenet, the company indicated that it wants such JV arrangements to
be in place already prior to the bidding parties’ submission of proposals.
For foreign bidders,
the state-run firm emphasized that the documents “may be substituted by the
appropriate equivalent documents in English – if any, and issued by the country
of the bidder concerned.”
In lieu of that, PSALM
noted that the documents “must be accompanied by a translation of the documents
in English issued by the relevant foreign government agency or a registered
translator in a foreign bidder’s country; and shall be authenticated by
Philippine foreign service establishment/post or the equivalent office having
jurisdiction over the foreign bidder’s affairs in the Philippines.”
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