PSALM sets bid for Pantabangan, Masiway hydropower plants
The Philippine Star
06/17/2006
The Power Sector Assets and Liabilities Management Corp. (PSALM) will bid out the Pantabangan and Masiway hydropower plants after the wholesale electricity spot market (WESM) has been put in place.
"Pantabangan-Masiway are peaking plants. It is good if we can sell them after the establishment of WESM," PSALM president Nieves Osorio said.
Initially, these two hydropower facilities located in Nueva Ecija have been slated on the auction block in the first half of the year.
But Osorio said they would be able to get good price for these assets if these will be disposed at the time the WESM is already running.
PSALM earlier said at least 15 investors have expressed interest to bid for these two hydropower facilities.
Interested parties for Pantabangan-Masiway were given up to November last year to complete their respective due diligence and submit their letter of interest. The pre-bid conference was held last Oct. 19, 2005.
Bidders will be asked to post a bond of $2 million to be able to participate in the bidding of the two hydropower plants.
PSALM vice president Froilan Tampinco earlier cited investors’ continued interest, particularly in the hydroelectric assets of the government.
He assured them that PSALM, in coordination with other government agencies, is continuously seeking resolution of the issues raised regarding the assets.
"We are steadfast in making sure that all concerns and issues are addressed and ironed out first so winning bidders of these plants can focus on the efficient and unhampered operation of said plants," Tampinco said.
Another hydropower facility, Magat, located in Isabela province, is set for bidding in the third quarter.
06/17/2006
The Power Sector Assets and Liabilities Management Corp. (PSALM) will bid out the Pantabangan and Masiway hydropower plants after the wholesale electricity spot market (WESM) has been put in place.
"Pantabangan-Masiway are peaking plants. It is good if we can sell them after the establishment of WESM," PSALM president Nieves Osorio said.
Initially, these two hydropower facilities located in Nueva Ecija have been slated on the auction block in the first half of the year.
But Osorio said they would be able to get good price for these assets if these will be disposed at the time the WESM is already running.
PSALM earlier said at least 15 investors have expressed interest to bid for these two hydropower facilities.
Interested parties for Pantabangan-Masiway were given up to November last year to complete their respective due diligence and submit their letter of interest. The pre-bid conference was held last Oct. 19, 2005.
Bidders will be asked to post a bond of $2 million to be able to participate in the bidding of the two hydropower plants.
PSALM vice president Froilan Tampinco earlier cited investors’ continued interest, particularly in the hydroelectric assets of the government.
He assured them that PSALM, in coordination with other government agencies, is continuously seeking resolution of the issues raised regarding the assets.
"We are steadfast in making sure that all concerns and issues are addressed and ironed out first so winning bidders of these plants can focus on the efficient and unhampered operation of said plants," Tampinco said.
Another hydropower facility, Magat, located in Isabela province, is set for bidding in the third quarter.
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