PSALM achieves significant reduction in financial obligations for FY 2023 and First Quarter 2024
The Power Sector Assets and Liabilities Management (PSALM) Corporation achieved a major success in its ongoing efforts to manage and reduce its financial obligations (FO). The reduction in FO balance was due to a plethora of factors, notable of which are the following: (1) Therma Luzon, Inc.’s (TLI) prepayment of its monthly payments relative to the Pagbilao Coal-Fired Power Plant IPPA in November 2023, (2) the sale and turnover of the Casecnan Hydroelectric Power Plant (HEPP) to Fresh River Lakes Corporation in February 2024, and (3) successful privatization of selected real estate assets within the allotted timeline. PSALM has reduced its liabilities to PHP283.65 billion as of 31 March 2024. A remarkable decrease of PHP956.35 billion from the 2003 peak level of PHP1.24 trillion. ...
PSALM issues its Guidelines and Procedures for Entering Joint Venture Agreements
The Power Sector Assets and Liabilities Management Corporation (PSALM) announces the issuance of its Guidelines and Procedures for Entering Joint Venture (JV) Agreements as approved by the PSALM Board on 26 June 2023. ...
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PSALM conducts successful pre-proposal conference for CBK plants, attracts interest from five (5) potential bidders
The Power Sector Assets and Liabilities Management (PSALM) Corporation conducted a successful pre-proposal conference on 12 July 2024 for the privatization of the Caliraya-Botocan-Kalayaan (CBK) Hydroelectric Power Plant Complex in Lumban, Majayjay, and Kalayaan Laguna, attracting significant interest from five (5) key industry players. The conference served as a pivotal event in the pre-bidding process, providing detailed insights into the CBK Plant Complex’s assets and inviting robust participation from potential bidders....