PSALM clears 8 bidders for Casecnan plant

MANILA, Philippines — Eight entities have qualified to proceed in the bidding for the sale of the 165-megawatt Casecnan Hydroelectric Power Plant (CHEPP) in Pantabangan, Nueva Ecija, according to the Power Sector Assets and Liabilities Management Corp. (PSALM).

The entities include Fresh River Lakes Corp., Neptune Hydro Inc., Global Hydro Power Corp., Panasia Energy Inc., GigaAce 11 Inc., Belgrove Power Corp., and Semirara Mining and Power Corp.

Also included is a consortium of EEI Power Corp.,  Soosan ENS. Co. Ltd., Soosan Industries Co. Ltd., and Mapalad Power Corp.

“PSALM thoroughly scrutinized the eligibility documents of these eight vying entities,” PSALM president and CEO Dennis Dela Serna said.

“This process laid the groundwork for a successful and judicious sale of the Casecnan plant. We also made sure that the winning bidder will have a good return on investment from the power plant,” he said.

PSALM has set the bidding for the CHEPP on May 16, 2023.

Deadline of submission is scheduled by 12 noon, with the opening and evaluation of bids to follow immediately.

The 165-megawatt CHEPP is a combined irrigation and power generation project.

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 National Irrigation Administration (NIA) officially ceased on Dec. 11.

It was placed under the co-ownership of PSALM and NIA.

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