Privatization Update: Generation Assets Sold
Power Plant Rated Capacity
(in MW)
Location Winning Bidder Winning Bid Price (US$) Turnover Date
PB 104 32 Davao City, Davao Del Sur SPC Power Corporation $4.66 Million 30-June-16
Power Barge 101
Power Barge 102
Power Barge 103
96 Bo. Obrero, Iloilo City Subic, Zambales Trans-Asia Oil and Energy Development Corporation $9.31 Million 08-Jul-15
Angat Hydroelectric Power Plant 218 Norzagaray, Bulacan Korea Water Resources Corporation (K-Water) $438.97 Million 31-Oct-14
* Naga Power Plant 153.1 Colon, Naga, Cebu Therma Power Viasayas Inc. Php1.030 Billion 16-July-18
Bacon-Manito Geothermal Power Plants 150 Bacon, Sorsogon & Manito, Albay Bac-Man Geothermal, Inc. $28.25 Million 03-Sept-10
Power Barge 117 100 Agusan del Norte Therma Mobile Inc. $16 Million 01-Mar-10
Power Barge 118 100 Compostela Valley Therma Marine Inc. $14 Million 06-Feb-10
Naga Land-Based Gas Turbine Power Plant 55 Colon, Naga, Cebu SPC Power Corporation $1.01 Million 29-Jan-10
Limay Combined Cycle Power Plant 620 Limay, Bataan Panasia Energy Holdings, Inc. $13.50 Million 18-Jan-10
Batangas (Calaca) Coal-Fired Thermal 600 Calaca, Batangas Sem Calaca Power Corporation $361.71 Million 03-Dec-09
Palinpinon-Tongonan Geothermal Power Plants 305 Valencia, Negros Oriental & Kananga, Leyte Green Core Geothermal, Inc. $220 Million 23-Oct-09
Amlan Hydroelectric Power Plant 0.8 Amlan, Negros Oriental Amlan Hydroelectric Power Corporation (AHPC) $0.23 Million 24-Jun-09
Tiwi-MakBan Geothermal Power Plants 747.53 Tiwi, Albay & Laguna/ Batangas AP Renewables, Inc. $446.89 Million 25-May-09
Panay 1 & 3- Bohol Diesel Power Plants 168.5 Dingle, Iloilo & Tagbilaran, Bohol SPC Island Power Corporation $5.86 Million 25-Mar-09
Ambuklao-Binga Hydroelectric Power Complex 175 Bokod & Itogon, Benguet SN Aboitiz Power Hydro Inc. $325 Million 10-Jul-08
Masinloc Coal-Fired Thermal Power Plant 600 Masinloc, Zambales Masinloc Power Partners Co., Ltd. $930 Million 17-Apr-08
Magat Hydroelectric Power Plant 360 Ramon, Isabela SN Aboitiz Power-Magat, Inc. $530 Million 25-Apr-07
Pantabangan-Masiway Hydroelectric Power Plants 112 Pantabangan, Nueva Ecija First Gen Hydro Power Corporation $129 Million 17-Nov-06
Loboc Hydroelectric Power Plant 1.2 Loboc, Bohol Sta. Clara Power Corporation $1.42 Million 30-Jun-05
Cawayan Hydroelectric Power Plant 0.4 Guinlajon, Sorsogon Sorsogon II Electric Cooperative, Inc. $0.41 Million 30-Jun-05
Agusan Hydroelectric Power Plant 1.6 Manolo Fortich, Bukidnon FG Bukidnon Power Corporation $1.53 Million 29-Mar-05
Barit Hydroelectric Power Plant 1.8 Buhi, Camarines Sur People's Energy Services, Inc. $0.48 Million 24-Jan-05
Talomo Hydroelectric Power Plant 3.5 Mintal & Catalunan Pequeño, Davao City HEDCOR, Inc. $1.37 Million 19-Jan-05
Decommissioned Plants
Sucat Thermal Power Plant 0 Muntinlupa City Riverbend Consolidated Mining Corporation $6.85 Million 02-Aug-17
Aplaya-General Santos Diesel 0 Misamis Oriental & General Santos City TEC Industries Inc. $1.49 Million 22-Oct-09
Cebu Diesel II 0 Talavera, Toledo City, Cebu Taifu Metal Exchange Corporation 0.46 Million 25-May-09
Manila Thermal 0 Manila Gagasan Steel Inc. 2.51 Million 20-Feb-09
Total Capacity 4,601.43 MW

Note: The winning bid prices for Limay CCPP, Naga LBGT, Masinloc CFTPP, Panay DPP, Palinpinon-Tongonan GPPs, Panay-Bohol DPPs, Tiwi-Makban GPPs, and Batangas CFTPP include rentals, option price for purchase of land and purchase orders.

*The turnover of the power complex is in accordance with the Supreme Court’s final decision in October 2016 which resolved to nullify the Asset Purchase Agreement and Land Lease Agreement executed by PSALM and Salcon Power Corporation (now SPC Power Corporation) and to reinstate the Notice of Award dated 30 April 2014 in favor of Therma Power Visayas, Inc. PSALM issued the Certificate of Effectivity of the Asset Purchase Agreement on 18 May 2018 which TPVI accepted on 23 May 2018. SPC returned NPPC to PSALM on 13 July 2018.