PSALM sets bid for Malaya thermal plant

MANILA, Philippines - The Power Sector Assets and Liabilities Management Corp. (PSALM) has set the bidding for the contracted capacity of the 650-megawatt (MW) Malaya thermal power plant in Pillilia, Rizal on June 16.

PSALM said interested parties will be allowed to conduct their respective due diligence activities starting yesterday.

By May 12, the prospective bidders could attend a pre-bid conference. 

As a prerequisite to the receipt of the bidding package, the interested parties will execute a confidentiality agreement and an undertaking pursuant to the Electric Power Industry Reform Act, both in forms provided by PSALM, and pay a non-refundable fee of $5,000. 

PSALM said the participation fee shall be either in cash, manager’s check, or cashier’s check. All bank charges, if any, shall be for the account of the bidding entity.

The confidentiality agreement, undertaking and participation fee must be received by the Bidding and Awards Committee by April 28, to entitle an interested party further participation in the bidding process as IPP administrator for the plant’s contracted capacity.

The bIdding package, which includes the bidding procedures, shall be issued during office hours from April 26 to 30 at the PSALM office.

“Only interested parties or consortia that have been issued the bidding package by the deadline will be allowed to participate further in the bidding process for the appointment as IPP administrator for the Malaya contracted capacity,” PSALM said.

A two-envelope bidding system will be adopted. Interested parties will be required to post a bid security equivalent to $10 million in the form of an irrevocable letter of credit which must be acceptable to the Committee.