PSALM Corporation bidding out Sucat plant, Visayas and Mindanao assets

psalm-corporation-bidding-out-sucat-plant-visayas-and-mindanao-assets

The Power Sector Assets and Liabilities Management (PSALM) Corp. is set to bid out the retired 850-megawatt (MW) Sucat Thermal Power Plant (STPP) and its remaining assets before the year ends.

The sale structures, plant equipment, auxiliaries and accessories of four units of STPP.

Its first bidding in 2014 was dismissed when bidding winner Genetron International Marketing was caught submitting fake documents.

The STPP, which was bid out for the second time in April, was labeled a failed bidding when its three qualified bidders were unable to meet the reserve price determined by the PSALM Board.

PSALM’ s bidding of its Visayas and Mindanao scrap assets also failed due to unmet reserve price.

The sale, set with a minimum price of P18 million, included all materials and equipment of the Aplaya Diesel Power Plant in Jasaan, Misamis Oriental; Bohol Diesel Power Plant in Tagbilaran, Bohol; Cebu Diesel Power Plant II in Toledo, Cebu, and the Palinpinon Geothermal Power Plant in Valencia, Negros Oriental.

PSALM is also evaluating the privatization of the 650-megawatt (MW) Malaya Thermal Power Plant in Rizal, which consists of a 300-MW unit with a once-through type boiler and a 350-MW unit with a conventional boiler.

Until its privatization, it will run as a must-run unit (MRU), or a source of energy during shortages and deficiencies in the grid.

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