Newsroom
Year: 2021

Fort Pilar Energy, Inc. exercises right of assignment in favor of its subsidiary for the purchase of Malaya TPP


The Power Sector Assets and Liabilities Management Corporation (PSALM) has approved the request of Fort Pilar Energy, Inc. (FPEI) to assign its right to purchase the 650-megawatt Malaya Thermal Power Plant (Malaya TPP) and its underlying land to its wholly owned subsidiary named Belgrove Power Corporation (Belgrove). FPEI is the winning bidder in the privatization process conducted by PSALM for Malaya TPP last month....

PSALM trims debt to P357.7 billion as of May (Danessa O. Rivera, The Philippine Star)


State-run Power Sector Assets and Liabilities Management Corp. (PSALM) has reduced its debts to P357.75 billion as of end-May this year....

PSALM declares a successful negotiated sale for the Malaya Thermal Power Plant


The public negotiated sale conducted today by the Power Sector Assets and Liabilities Management Corporation (PSALM) for the privatization of the 650-megawatt (MW) Malaya Thermal Power Plant (MTPP) was a success. Fort Pilar Energy Inc. was declared as the winning negotiating party after it submitted the highest offer with an amount of PHP3,123,500,000.00. This highest offer surpassed the Minimum Offer Price of PHP1,845,222,000.00 that was set by the PSALM Board of Directors for this negotiated sale process....

Offer Submission for the Malaya Thermal Power Plant will proceed


The Power Sector Assets and Liabilities Management Corporation (PSALM) has scheduled the offer submission and evaluation proceedings on 07 May 2021 as part of the third round of negotiated sale process for the 650-megawatt Malaya Thermal Power Plant (MTPP) and its underlying land, located in Pililla, Rizal. ...

PSALM to conduct bidding for its unserviceable assets, junk and scrap materials through package sale


The Power Sector Assets and Liabilities Management Corporation (PSALM) is holding a public bidding to dispose, through package sale on an “As-Is, Where Is” and “Take All” basis, certain unserviceable assets consisting of junk and scrap materials in various locations....