PSALM rebids idle Sucat power plant in September

Danessa Rivera (The Philippine Star) - June 9, 2016 - 12:00am

http://www.philstar.com/business/2016/06/09/1591385/psalm-rebids-idle-sucat-power-plant-in-september

MANILA, Philippines – After encountering two failed biddings, state-run Power Sector Assets and Liabilities Management (PSALM) Corp. will bid out in September the decommissioned 850-megawatt (MW) Sucat thermal power plant (STPP) in Muntinlupa City, its top official said.

“The PSALM Board has just approved the privatization of decommissioned sucat plant with September 2016 as target date of bidding,” PSALM officer-in-charge Lourdes S. Alzona said in a text message.

“This will be another round of regular bidding, but may proceed to a negotiated sale in case this bidding has been declared a failure,” she said.

The STPP was first bid out in 2014, which was awarded to highest bidder Genetron International Marketing.

However, PSALM terminated the asset purchase agreement with Genetron after it discovered fake documents were submitted.

The second round bidding for the Sucat plant last April 8 was also declared as a failed bidding after the three qualified bidders did not meet the reserve price set by the PSALM Board.

The sale involved all structures, plant equipment, auxiliaries and accessories of the decommissioned thermal power plant.

The Sucat plant consists of Unit 1, which has a rated capacity of 150 MW; Units 2 and 3, each with 200 MW; and Unit 4, which is rated at 300 MW.

It was previously owned by Manila Electric Co. (Meralco) but was acquired by the National Power Corp. (Napocor) in November 1978.

Formerly known as the Gardner Snyder Thermal Plant, the plant officially commenced commercial operations in 1968 with the completion of Unit 1.