PSALM's Official Statement on the Ilijan Power Plant IPPA AA Case
The Orders recently issued by the Regional Trial Court of Mandaluyong (RTC Mandaluyong) denying the Motion for Reconsideration of PSALM are purely on procedural and jurisdictional matters. The Orders did not pass upon the substance of the termination by PSALM of the Independent Power Producer Administration Agreement (IPPA Agreement) with South Premiere Power Corp. (SPPC) (a subsidiary of SMC Global Power Holdings Corp.) by reason of the latter’s breach of contract and default. It is therefore wrong to publicly claim that the RTC Mandaluyong has already upheld the legal position of SPPC relative to the termination of the IPPAA....
After undergoing a long and arduous procurement process marked with two failed public biddings and four failed negotiated procurements, PSALM has finally engaged a consultancy firm for the valuation of the Malaya Thermal Power Plant (Malaya TPP) and its underlying land. On 04 March 2019, PwC Philippines scored highest among three competing consultancy firms during the negotiated procurement anchored on a Quality-Based Evaluation Procedure that PSALM conducted. ...
PSALM shortlists five firms for Diliman property design contest
After a rigorous selection process, the Power Sector Assets and Liabilities Management Corporation (PSALM) shortlists five architectural firms that will proceed to the Second Stage of the Architectural Conceptual Design Contest for the master planning and redevelopment of the 5.1-hectare Diliman property. These firms are expected to design a development concept based on the highest and best use of the property....
PSALM continues settlement of indemnities for Power Barge 103 oil spill
The Power Sector Assets and Liabilities Management Corporation (PSALM) resumed on 11 April 2019 its distribution of compensation checks to individuals, families, and enterprises who were affected by the Power Barge (PB) 103 Oil Spill at the height of Super Typhoon Yolanda in 08 November 2013. The 32-megawatt PB 103 was then moored at Brgy. Botongon in the Municipality of Estancia, Iloilo when it was swept aground due to strong winds and storm surge. ...
PSALM is selling land properties in Aplaya, Jasaan, Misamis Oriental and in Toledo City, Cebu
The Power Sector Assets and Liabilities Management Corporation (PSALM) has initiated the privatization of land assets located in Barangay Aplaya, Jasaan, Misamis Oriental and in Toledo City, Cebu. The sale of these land assets is on an “as is, where is” basis....