PSALM prepares to privatize remaining assets


Amid its plans to privatize and sell remaining assets, the Power Sector Assets and Liabilities Management Corp. (PSALM) is gathering its prospective investors as it targets holding an investor forum to generate interest focusing on the privatization of the Caliraya-Botocan-Kalayaan (CBK) hydroelectric power plants and the rehabilitation and asset management plan for the Agus-Pulangi hydroelectric power plants. 

In a report by the Philippine Star, PSALM said the forum is intended to strengthen relationships with future investors and promote the exchange of information to enhance the privatization process for their remaining assets.

PSALM President and CEO Dennis Dela Serna expressed optimism about the company’s latest initiative. In a statement, he said that this would allow participants to learn first-hand about the privatization and disposal process. 

The company also looks forward to receiving inquiries and recommendations from participants, which could potentially improve their business process, he added.

The invitation to bid for the 796.46-megawatt CBK hydroelectric power plant complex in Laguna is set to be released by PSALM in December, representing part of the P45-billion worth of key remaining assets that the state-owned corporation looks to privatize.

The company also targets to privatize and dispose of its remaining assets, such as the 200-MW Mindanao coal-fired power plant, 72 hectares of real estate assets in Bagac, Diliman, Sucat, and Baguio, as well as land underlying independent power producer plants.

Moreover, PSALM is currently studying rehabilitation projects for the Agus and Pulangi hydroelectric power plants and will initiate the bidding process the following year.