Press Releases
Year: 2024

PSALM issues its Guidelines and Procedures for Entering Joint Venture Agreements


The Power Sector Assets and Liabilities Management Corporation (PSALM) announces the issuance of its Guidelines and Procedures for Entering Joint Venture (JV) Agreements as approved by the PSALM Board on 26 June 2023. ...

PSALM and NIA formally turn over Casecnan Hydroelectric Power Plant (HEPP) to Fresh River Lakes Corporation (FRLC)


Effective 26 February 2024 at 00:00 hours, FRLC, a subsidiary of First Gen Corporation, is the official owner and operator of the 165-megawatt Casecnan HEPP....

PSALM obtains clearance from PCC on the sale of Casecnan hydro power plant


On 30 January 2024, the Power Sector Assets and Liabilities Management Corporation (PSALM) received the Philippine Competition Commission (PCC) Certification for its clearance on the sale of the 165-megawatt Casecnan Hydroelectric Power Plant (CHEPP) by PSALM and the National Irrigation Administration (NIA) to Fresh River Lakes Corporation (FLRC). Following PCC’s clearance, PSALM issued its Certificate of Effectivity to FLRC on 31 January 2024 which marked the Casecnan Final Transaction Documents effective and binding among the Parties composed of PSALM, NIA and FRLC. ...

PSALM receives PHP5.176 billion for first tranche of the PHP5.192 billion purchase price of Sucat Properties


On 29 December 2023, the Department of Transportation (DOTr) paid Power Sector Assets and Liabilities Management Corporation (PSALM) the amount of PHP5,176,063,000.00 representing the first tranche of the purchase price for the Sucat Properties equivalent to 100% of the value of the titled land. ...