JBIC Approves Sale Of The Masinloc Plant
The Japan Bank for International Cooperation (JBIC), one of the major creditors of the National Power Corporation, has given its consent to the sale of the 600-megawatt Masinloc coal-fired thermal power plant located in Zambales, to finally complete the process of securing the consent of all National Power creditors which is required for the formal turnover of the plant to the winning bidder, YNN Pacific Consortium. The other National Power creditors - Asian Development Bank and the World Bank - gave their consents in July and September, respectively....
The Controllership Department of the Power Sector Assets and Liabilities Management Corporation (PSALM) was recently named one of the most outstanding accounting offices for Calendar Year 2004 under the government corporate sector for being efficient, reliable, accurate and complete in the preparation and submission of its financial documents to the Commission on Audit (COA). ...
World Bank Gives Go-Signal On Masinloc Privatization
The World Bank, one of the major creditors of the National Power Corporation (NPC), has “no objection” to the sale of the 600-megawatt (MW) Masinloc power plant located in Zambales, WB country director Joachim von Amsberg said in a letter dated September 8....
Department of Finance (DOF) undersecretary Nieves L. Osorio will assume the presidency of the Power Sector Assets and Liabilities Management (PSALM) Corporation, the government agency tasked with the disposition of all assets of the National Power Corporation (NPC), including its privatization. Osorio will replace Raphael P.M. Lotilla, who was recently named secretary of the Department of Energy....
ERC Sets Public Hearings On Transco Asset Revaluation
Officials of the Power Sector Assets and Liabilities Management Corporation (PSALM), led by its vice president for Finance Nonito R. Bernardo Jr., will present the proposed regulatory asset base (RAB) jointly filed by PSALM and the National Transmission Corporation (TransCo) during the series of public hearings being conducted by the Energy Regulatory Commission (ERC)....