(The Philippine Star) | Updated March 9, 2017 - 12:00am
MANILA, Philippines -
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) has
deferred the sale of the 650-megawatt (MW) Malaya Thermal Power Plant (TPP) in
Rizal after the Department of Energy (DOE) proposed to convert the facility
into a liquefied natural gas (LNG) plant.
PSALM is awaiting the
instruction of the DOE regarding the privatization of the power plant.
Originally set March 8,
PSALM decided to bid out the Malaya TPP in March 30, PSALM officer-in-charge
Lourdes Alzona said.
“The bidding date has
been moved to March 30 with the same bidders. The final transaction document
will take into consideration the requirement of DOE for the Malaya’s conversion
to a baseload LNG plant. This is currently under discussion and we will defer
to our board,” she said.
Energy Secretary
Alfonso Cusi said earlier he wants to convert the Malaya TPP into a LNG
facility to ensure reliable power supply in the future.
The plant’s conversion
would also allow the country a cleaner, more efficient and reliable power
plant, he said.
Currently, the Malaya
TPP, which runs on diesel, was designated as a must-run unit (MRU) to address
supply deficiency when operating power plants in the grid suddenly bog down or
become unavailable.
It will operate as an
MRU until the DOE finalizes its privatization schedule.
Prior the DOE’s
proposal, the Malaya plant was supposed to be sold on an “as is, where is”
basis.
Four power companies
have expressed interest in the asset, namely APT Global Inc, Phinma Energy
Corp., Riverbend Consolidated Mining Corp. and AC Energy Holdings Inc.
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