In preparation for the privatization of the Casecnan, the Power Sector Assets and Liabilities Management Corporation is working on appraising the value of the 165-megawatt irrigation and power generation facility.
Casecnan is expected to be up for sale to private buyers in 2022.
Casecnan Water and Energy Company Inc. will operate the facility and is in contract with the National Irrigation Administration that is set to expire on 11 December. Once it expires, NIA will own 40 percent, while PSALM will own 60 percent of Casecnan.