PSALM sets auction for Panay-Bohol plant
The Power Sector Assets and Liabilities Management Corp. (PSALM) has set the auction date for the 146.5-megawatt (MW) Panay and 22-MW Bohol diesel power facilities on Oct. 29, 2008.
The asset manager issued yesterday the invitation to bid (ITB) for the generation plant package, informing interested parties to submit their respective letter of interest on or before July 30.
Interested investor groups are also required to pay a non-refundable fee of $2,000 and execute a confidentiality agreement and an undertaking with the government power privatization firm.
Qualified investor groups can then conduct their due diligence from July 17 to
A pre-bid conference for the prospective bidders of the Visayas-based power assets is on Aug. 6 at the PSALM office in
In its original asset sale schedule, PSALM packaged the
But since the long-term steam supply agreement to be attached to the Palinpinon plant still has to be approved by the Joint Congressional Power Commission (JCPC), the PSALM board decided to move the sale of the geothermal asset to 2009.
Under JCPC Resolution 2006–1, the agreement, now known as the geothermal resources supply contract, is subject to the commission’s approval.
The PSALM board formally announced the withdrawal of the bidding for the Palinpinon-Panay package in a supplemental bid bulletin (SSB) it issued last July 3, to the prospective bidders. This clarifies reports that the privatization of the Palinpinon plant was moved to November.
The
The plant was transferred to its present location to prevent a potential near-term power shortage and to provide voltage stabilization in the
The
The
Consisting of four 5.5-MW identical generating units, the
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