SPC tops bidding for 32-MW power barge

MANILA, Philippines – SPC Island Power Corp. (SIPC) outbid two other firms in the auction for the 32-megawatt Power Barge 104, the Power Sector Assets and Liabilities (PSALM) Corp. said.

The two other companies that joined the negotiated sale were Trans-Asia Oil and Energy Development Corp. and D.M. Wenceslao & Associates Inc.

“SIPC was declared the negotiating party with the highest offer after it bested two other companies with its P218.9 million proposal,” PSALM officer-in-charge Lourdes Alzona said.

The negotiated sale for PB 104 was conducted last Friday at PSALM’s office in Makati City.

“PSALM Privatization Bids and Awards Committee will report the results of the negotiated sale to the PSALM board then issue a Notice of Award upon completion of the negotiation process,” PSALM said.

PB 104 was first bid out in October 2013, along with PBs 101, 102 and 103, but was declared a failed bidding after bidders failed to meet the requirements.

PSALM had sought the opinion of the Office of the Government Corporate Council to proceed with a negotiated sale of the government asset.

PB 104 was commissioned in 1981 and started operation in 1985. It is located at the Holcim Compound, Ilang, Davao City.