The Power Sector Assets and Liabilities Management Corp. (PSALM) has put the bidding for the 650-megawatt (MW) Malaya Thermal Power Plant on hold anew.
Lourdes Alzona, PSALM officer-in-charge, said that the bidding for the Rizal-based asset is “deferred until further notice.”
“Bidding has been moved to have more time for the evaluation of options for the Board, in consideration of the DOE policy to ensure sufficiency of the power supply in the Luzon grid,” Alzona said.
The state-run firm is still waiting for Department of Energy’s instructions regarding the privatization of the MTPP.
The bidding was originally set on March 8 but was moved to March 30 in consideration of DOE’s proposal to convert the facility into a liquefied natural gas (LNG) plant.
Before DOE’s proposal, the Malaya plant was supposed to be sold on an “as-is, where is” basis.
Alzona said that the final transaction document will take the requirement of DOE for the Malaya’s conversion to a baseload LNG plant into consideration.
The conversion of the MTPP will assure reliable power supply in the future and will allow the county to have a cleaner, more efficient and reliable power plant, Energy Secretary Alfonso Cusi said.