PSALM targets new cash offering, debt swap
The Power Sector Assets and Liabilities Management (PSALM) Corporation has commenced a new cash offering and a bond exchange offer (collectively, the "Global Bond Offering") as part of its efforts to efficiently manage the liabilities of the National Power Corporation ("NPC").
The bond exchange offer will help extend the maturity of the existing loans incurred by NPC and which were transferred to...
PSALM turns over administration of Sual, Pagbilao power plants to IPPAs
The Power Sector Assets and Liabilities Management Corporation (PSALM) has formally turned over the administration of the contracted capacities of the National Power Corporation in the coal-fired Sual and Pagbilao power plants to their new independent power producer administrators (IPPAs), San Miguel Energy Corporation (SMEC) and Therma Luzon Inc., respectively.
Sans the fanfare, the turnover was...
SPC acquires Naga LBGT power plant in negotiated sale
SPC Power Corporation today (16 October 2009) acquired the 55-megawatt (MW) Naga Land-Based Gas Turbine (LBGT) Power Plant after concluding negotiations with the Power Sector Assets and Liabilities Management (PSALM) Corporation.
The Naga facility is the seventh operating power plant successfully sold by PSALM this year.
In bagging its third power asset, SPC agreed to match the reserve price...
IPPA bidding for hydropower plants set on 15 December
The bidding for the appointment of independent power producer administrators (IPPAs) to manage the National Power Corporation's contracted capacities in the Bakun, Benguet, and San Roque hydroelectric power plants will be conducted on Tuesday, 15 December 2009, with nine bidders expected to participate in the exercise. The Power Sector Assets and Liabilities Management (PSALM) Corporation stated...