Posted on February 06, 2014 10:39:13 PM
By Claire-Ann M. C. Feliciano, Reporter
POWER Sector Assets and Liabilities Management Corp. (PSALM) is set to auction off -- for the third time -- the 153.1-megawatt (MW) Naga power plant complex in Cebu next month.
Auctions for the Naga power plant complex have failed twice before, when only one bidder participated each time.
The state-run firm, in an invitation to bid published yesterday, asked interested parties to participate in the privatization of the power asset located in Barangay Colon, Naga City, Cebu.
PSALM said bidders should submit a letter of interest and pay a non-refundable participation fee of P120,000 by Feb. 14.
At the same time, the parties should execute a confidentiality agreement and undertaking with PSALM by Feb. 17.
A pre-bid conference has been scheduled for Feb. 24, and the auction, for Mar. 3.
PSALM is the agency mandated by Republic Act No. 9136, the Electric Power Industry Reform Act of 2001, to handle the sale of the remaining power assets and financial obligations of the National Power Corp.
The first two auctions for the privatization of the Naga complex -- held in July and September last year -- both failed after only one firm participated in both exercises.
The power facility is currently being handled by SPC Power Corp. under an operation and maintenance service contract that will lapse in this coming March.
The power plant complex consists of three power plants: the coal-fired Cebu thermal power plants 1 and 2, with installed capacities of 52.5 MW and 56.8 MW, respectively; and the 43.8-MW Cebu diesel power plant, consisting of six 7.3-MW diesel-fed power units.
Last week, PSALM said it will also bid out the independent power producer administrator contracts for Mt. Apo 1 and 2 geothermal power plants in the third quarter.
Each of the power plants -- located in Kidapawan City, North Cotabato -- has an installed capacity of 54.24 MW. source
PSALM said bidders should submit a letter of interest and pay a non-refundable participation fee of P120,000 by Feb. 14.
At the same time, the parties should execute a confidentiality agreement and undertaking with PSALM by Feb. 17.
A pre-bid conference has been scheduled for Feb. 24, and the auction, for Mar. 3.
PSALM is the agency mandated by Republic Act No. 9136, the Electric Power Industry Reform Act of 2001, to handle the sale of the remaining power assets and financial obligations of the National Power Corp.
The first two auctions for the privatization of the Naga complex -- held in July and September last year -- both failed after only one firm participated in both exercises.
The power facility is currently being handled by SPC Power Corp. under an operation and maintenance service contract that will lapse in this coming March.
The power plant complex consists of three power plants: the coal-fired Cebu thermal power plants 1 and 2, with installed capacities of 52.5 MW and 56.8 MW, respectively; and the 43.8-MW Cebu diesel power plant, consisting of six 7.3-MW diesel-fed power units.
Last week, PSALM said it will also bid out the independent power producer administrator contracts for Mt. Apo 1 and 2 geothermal power plants in the third quarter.
Each of the power plants -- located in Kidapawan City, North Cotabato -- has an installed capacity of 54.24 MW. source
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