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MANILA, Philippines - More bidders are expected to participate in the privatization of the power contracts of the Naga power plant complex in Cebu, Power Sector Assets and Liabilities Management Corp. (PSALM) president Emmanuel Ledesma said.
He said at least six more bidders have signified interest to join the bidding for the independent power producer administrator (IPPA) contracts for the entire 149-megawatt (MW) power facility.
“Previously there were six a year ago. But I have received a number of letters of interest from maybe an additional four to five additional bidders. So the total would be around 10 bidders,” he said.
Ledesma said most of the new bidders for the Naga complex are local firms. “Mostly local. Some of them have not been as active in the power industry,” he noted.
He said they are set to privatize Naga within the next two months. “We’re looking at maybe some time in late August.”
PSALM earlier noted that among the interested parties for the Naga complex include SPC Power Corp., and San Miguel Corp.
The Naga power plant complex in Naga, Cebu consists of the Cebu power plant complex I with an installed capacity of 55 MW, Cebu power plant complex 2 with a capacity of 55 MW and Cebu diesel power plant with an installed capacity of 39 MW.
Ledesma said they are slated to offer other power assets in the latter part of the year.
“After Naga, we’re looking at the Casecnan IPPA and the Power Barges 101 to 104, almost simultaneously at the fourth quarter of the year,” he said.
PSALM has to date sold about 91.73 percent of the generating assets in the Luzon and Visayas grids.
PSALM generated $3.467 billion from the sale of the generating assets and $3.23 billion from the IPP contracts.
Other assets that PSALM has yet to privatize include the 850-MW Sucat thermal plant and 630-MW Malaya thermal plant.
He said at least six more bidders have signified interest to join the bidding for the independent power producer administrator (IPPA) contracts for the entire 149-megawatt (MW) power facility.
“Previously there were six a year ago. But I have received a number of letters of interest from maybe an additional four to five additional bidders. So the total would be around 10 bidders,” he said.
Ledesma said most of the new bidders for the Naga complex are local firms. “Mostly local. Some of them have not been as active in the power industry,” he noted.
He said they are set to privatize Naga within the next two months. “We’re looking at maybe some time in late August.”
PSALM earlier noted that among the interested parties for the Naga complex include SPC Power Corp., and San Miguel Corp.
The Naga power plant complex in Naga, Cebu consists of the Cebu power plant complex I with an installed capacity of 55 MW, Cebu power plant complex 2 with a capacity of 55 MW and Cebu diesel power plant with an installed capacity of 39 MW.
Ledesma said they are slated to offer other power assets in the latter part of the year.
“After Naga, we’re looking at the Casecnan IPPA and the Power Barges 101 to 104, almost simultaneously at the fourth quarter of the year,” he said.
PSALM has to date sold about 91.73 percent of the generating assets in the Luzon and Visayas grids.
PSALM generated $3.467 billion from the sale of the generating assets and $3.23 billion from the IPP contracts.
Other assets that PSALM has yet to privatize include the 850-MW Sucat thermal plant and 630-MW Malaya thermal plant.
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