MANILA, Philippines - State-run Power Sector Assets and Liabilities Management Corp. (PSALM) will decide next month on the privatization of the decommissioned 850-megawatt (MW) Sucat thermal power plant (STPP) in Muntinlupa City.
The agency failed anew to bid out the asset earlier this month.
The PSALM board will discuss during its meeting next month its plans for the idle asset, PSALM officer-in-charge Lourdes S. Alzona said in a text message.
“Action to be taken for the decommissioned Sucat plant will be part of agenda in next month’s board meeting,” she said.
On April 8, PSALM declared the second round bidding for the Sucat plant a failure after the three qualified bidders did not meet the reserve price set by the board.
The three qualified bidders are Riverbend Consolidated Mining Corp., VPD Trading and Sta. Clara International, but their offers did not meet the reserve price.
The STPP was first bid out in 2014, and was awarded to Genetron International Marketing.
However, PSALM terminated the asset purchase agreement with Genetron after it discovered fake documents were submitted.
The sale involved all structures, plant equipment, auxiliaries and accessories of the decommissioned thermal power plant.
The Sucat plant consists of Unit 1, which has a rated capacity of 150 MW; Units 2 and 3, each with 200 MW; and Unit 4, which is rated at 300 MW.
It was previously owned by Manila Electric Co. (Meralco) but was acquired by the National Power Corp. (Napocor) in November 1978.
Formerly known as the Gardner Snyder Thermal Plant, the plant officially commenced commercial operations in 1968 with the completion of Unit 1.