By Lenie Lectura - May 24, 2018
THERMA Power Visayas Inc. (TPVI), a
subsidiary of AboitizPower, can now proceed to operate the Naga Power Plant
Complex in Naga City, Cebu, after it received a Certificate of Effectivity
(COE) from the Power Sector Assets and Liabilities Management Corp. (PSALM).
“We appreciate the decision of
PSALM, and we look forward to operating the facility and contribute to securing
the energy needs of the Visayas,” AboitizPower President Antonio Moraza said.
PSALM issued a notice of award to
TPVI in 2014 after TPVI posted the highest bid of P1.088 billion for the asset
after two failed bidding.
The COE implements the September 28,
2015 decision of the Supreme Court, which upheld the April 30, 2014, award of
the facility to TPVI.
The Supreme Court in a September 28,
2015 decision upheld the validity of PSALM’s public bidding. The High Court
reiterated its decision in an October 5, 2016, resolution.
The Naga power-plant complex is
composed of diesel and coal-power plants with a combined capacity of 153.1
megawatts.
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