Casecnan attracts 7 bidders

MANILA, Philippines — The Power Sector Assets and Liabilities Management Corp.(PSALM) has shortlisted seven qualified firms – including the Aboitiz, Meralco, Ayala, Yuchengco and Romero groups – for the sale of the 165-megawatt Casecnan Hydroelectric Power Plant (CHEPP).

The qualified bidders for the state-owned hydropower asset include Fresh River Lakes Corp. of First Gen Corp., Neptune Hydro Inc. of SN Aboitiz, Global Hydro Power Corp. of Meralco Powergen Corp., Panasia Energy Inc., consortium of EEI Power Corp., Soosan ENS Co. Ltd., Soosan Industries Co. Ltd. and Mapalad Power Corp., GigaAce 11 Inc. of ACEN Corp., and Belgrove Power Corp. of the family of Rep. Mikee Romero, according to PSALM.

Meanwhile, the deadline for the submission of bids for the CHEPP was moved to May 16, from the original March 28 target.

PSALM president and CEO Dennis Edward Dela Serna said the date was deferred as the agency was still waiting for pertinent documents from the National Irrigation Administration (NIA).

“We are still waiting for documents from the National Irrigation Administration because the facility is co-owned by NIA and PSALM. So, because of that we need approval of certain documents. So, for this one, we need a water protocol from NIA,” he said.

As for the sale price of CHEPP, this is only divulged to the participating and qualified bidders.

The 165-megawatt CHEPP is a combined irrigation and power generation project in Pantabangan, Nueva Ecija.

It was turned over to the government in 2021 after the 20-year build-operate-transfer scheme between the CE Casecnan Water and Energy Co. Inc. and the NIA officially ceased on Dec. 11.

It was placed under the co-ownership of PSALM and NIA, which represent the government’s interest at 60 percent and 40 percent, respectively.

The power asset is a run-of-river type of plant with limited impounding area.