14 firms have expressed their interest to purchase the 165-megawatt (MW) Casecnan Hydroelectric Power Plant (CHEPP), the Power Sector Assets and Liabilities Management Corporation (PSALM) said.
Among the interested firms include the Consunji-led Semirara Mining Power Corporation, EEI Power Corporation, ACEN Corporation’s GigaAce 11 Inc., Fresh River Lakes Corp., Neptune Hydro Inc., Sta. Clara International Corporation, Pan Pacific Renewable Power Philippines. Corporation, Global Hydro Power Corp., Belgrove Power Corp., Axia Power Holdings Philippine Corporation., Panasia Energy Inc., Hansan Solar Corp., San Roque Power Corporation, and Peakpoint Inc.
Submission for bids has been set until March 28, 2023. Transferring of CHEPP’s assets to the winning bidder is slated in the first trimester.
The divestment CHEPP will be the first power plant divestment under the Marcos Administration. The move will be the continuation of the privatization of the state-owned assets which were previously under the control and management of the National Power Corporation.
The 165 MW Casecnan plant is a run-of-river type of power facility with limited impounding located in Pantabangan, Nueva Ecija.
The power asset was transferred under the government after the build-operate-transfer agreement between the CE Casecnan Water and Energy Co. Inc., and the National Irrigation Administration (NIA) officially ended on December 11, 2021.