Manila Times.net
STATE-RUN Power Sector Assets and Liabilities Management Corp. (PSALM)said it is set to sell the contract of the Naga power plant within the next two months.
Emmanuel Ledesma, PSALM president, said they hope to complete the selection of an independent power plant administrator for the Naga facility by August, noting that several more companies have expressed interest in the bidding.
“A year ago, there were only six who have expressed interest. But I have received a number of letters of interest from maybe four to five additional bidders, bringing the total number to about ten bidders,” Ledesma said.
The official said most of the new bidders are local firms that “have not been as active in the power industry.”
SPC Power Corp and San Miguel Corp., among others, expressed interest to join the bidding for the IPPA of the Naga plant in Cebu.
Naga is composed of the 55-megawatt Cebu Power Plant Complex 1, the 55-MW Cebu Power Plant Complex 2, and the 39-MW Cebu Diesel Power Plant.
Ledesma said that other assets, including the Cesecnan IPPA and Power Barges 101 to 104, are slated for privatization in the fourth quarter.
As of June, PSALM was able to sell about 91.73 percent of all power generating assets in the Luzon and Visayas grids. The sale of the generating assets earned $3.467 billion, while those of IPPA contracts generated $3.23 billion.
PSALM said that next in line for privatization were the 850 MW Sucat Thermal Plant and the 630 MW Malaya Thermal Plant.
So far, PSALM has privatized some 68.7 percent of the total contracted capacities in the Luzon and Visayas grids to IPPAs. It has yet to bid out the contracted capacities of the Unified Leyte geothermal plants.
The Unified Leyte assets include the 125-MW Upper Mahiao Plant, 232-MW Malitbog and 180-MW Mahanagdong plants, and the 51-MW Optimization Plant. Energy Development Corp. operates the said steam plants.JAMES KONSTANTIN GALVEZ
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