Privatization
Privatization Update: Disposed Real Estate Assets

As of 30 August 2020, PSALM has disposed 441 lots from its Real Estate Assets (REA) portfolio either through public bidding, public auction, government-to-government transaction or option existence notice (OEN) or negotiated bidding:

A. Disposal through Option Existence Notice (OEN)

Property Location No. of Lots Land Area
(sq.m.)
SGC Net Purchase Price Option Date
Bataan CCPP Limay, Bataan 51
4
228,616
65,626
Panasia Energy, Inc. USD2,841,555.00
USD1,343,577.14
31 October 2007
14 February 2018
Bohol DPP Land Tagbilaran City, Bohol 5
2
1
15,536
15
11,976
SPC Island Power Corporation USD448,655.00
USD436.64
USD348,903.90
14 June 2012
08 December 2016
01 June 2017
Batangas CFTPP Land Calaca, Batangas 27
375,364
9,548
Sem-Calaca Power Corporation PHP365,364,000.00
PHP10,564,504.00
25 July 2011
30 August 2017
Masinloc CFTPP Land Masinloc, Zambales 153
11
2
2
1,057,628
121,797
2,526
12,522
Masinloc Power Partners Corp. Ltd./Alpha Water Realty Services Corporation PHP528,814,000.00
PHP19,343,097.02
PHP2,812,578.72
PHP14,229,722.36
01 July 2011
26 December 2013
11 October 2017
09 August 2019
Magat HEPP Land Ramon, Isabela 2 55,900 SN Aboitiz Power USD747,618.07 31 October 2007
Pantabangan HEPP Land Pantabangan Nueva Ecija 5
5
1
49,214
23,819
2,511
First Gen Hydro Power Corporation USD225,493.70
USD110,230.62
USD5,682.87
16 March 2011
28 April 2011
14 February 2018
Total 272 2,032,598 PHP1,235,080,825.93

*Note: The currency of Purchase Price is based on its respective LLAs. To sum up the Net Purchase Price in PHP, use conversion USD1 = PHP48.41, as of 30 September 2020.

B. Disposal through Public Bidding

Property Location No. of Lots Land Area
(sq.m.)
Winning Bidder Financial Bids
(In PHP)
Turnover Date
Cebu DPP Property Toledo City, Cebu 21 109,415 Panasia Energy, Inc. 250,000,000 06 December 2019
Laoag Property Laoag City, Ilocos Norte 1 3,530 Panasia Energy, Inc. 84,720,000 06 December 2019
Naga Property Naga, Bicol 1 193 Mr. Eric Alfred Yu Chang Cabral 1,254,500 12 November 2019
Aplaya DPP Property Jasaan, Misamis Oriental 49 139,266 Panasia Energy, Inc. 600,000,000 06 December 2019
Total 72 252,404 935,974,500

C. Disposal through Negotiated Bidding

Property Location No. of Lots Land Area
(sq.m.)
Winning Bidder Financial Bids
(In PHP)
Turnover Date
Agusan Property Manolo Fortich, Bukidnon 3 10,596 FG Bukidnon Power 28,610,168 2020
Maco Property Maco, Davao de Oro City 1 1,595 Therma Marine, Inc. 3,209,140 2020
Nasipit Property Nasipit, Agusan del Norte 1 3,395 Therma Marine, Inc. 4,414,000 2020
Total 5 15,586 36,233,308

D. Disposal through Transfer to Another Government Agency

Property Location No. of Lots Land Area
(sq.m.)
Winning Bidder Financial Bids
(In PHP)
Turnover Date
Bauang Property Bauang, La Union 92 261,349.32 Provincial Government of La Union 524,211,660 14 August 2019
Total 92 261,349.32 524,211,660
No. of Lots Land Area
(sq.m.)
Purchased Price
(In PHP)
Grand Total 441 2,561,937.32 2,731,500,293.93