PSALM preps pre-payment of up to $1B of NPC debts
The Power Sector Assets and Liabilities Management Corporation (PSALM) is poised to chop off a sizeable chunk of the government’s debt burden by programming the pre-payment of up to US$1 billion of the National Power Corporation’s (NPC) loan obligations.
The amount is about 14% of NPC’s debt. "We have identified some loan agreements which allow for pre-payment, and we now have the resources for...
PSALM set to pre-pay NPC debts
Thanks to encouraging proceeds from the privatization of National Power Corporation (NPC) power plants, the Power Sector Assets and Liabilities Management Corporation (PSALM) has programmed the pre-payment of a number of NPC’s debts.
"This is in accordance with PSALM’s mandate under the Electric Power Industry Reform Act of 2001 (EPIRA). The programmed pre-payment will likewise alleviate the government’s...
PSALM confident TransCo bidding will push through
Power Sector Assets and Liabilities Management Corporation (PSALM) President Jose C. Ibazeta expressed confidence that the bidding for the 25-year concession contract for the National Transmission Corporation (TransCo) would push through as scheduled on 12 December despite efforts by some parties to stop the bidding.
"Unless PSALM receives an order from the court, we will push through with the TransCo...
Ibazeta: Privatization program will succeed
Power Sector Assets and Liabilities Management Corporation (PSALM) President Jose C. Ibazeta said privatization efforts would succeed this year despite dubious issues that have been raised against the integrity of the privatization process.
"The case against PSALM's alleged bias resulting in the disqualification of a TransCo (National Transmission Corp.) bidder is already in court. I have great...
Bidding for Palinpinon-Panay plants reset
The Power Sector Assets and Liabilities Management Corporation (PSALM) has moved the public bidding for the 192.5-megawatt (MW) Palinpinon Geothermal Power Plant and 146.5-MW Panay Diesel Power Plant as it finalizes revisions in the transaction documents on the privatization of the facilities. The bidding was originally set for 05 December. PSALM has taken the cue of the Joint Congressional Power...