Privatization
Privatization Update: Generation Assets Sold

As of 31 August 2021, PSALM has successfully privatized and turned over to the winning bidders (Successor Generating Companies (SGCs) a combined capacity of 5,251.43 megawatts, covering thirty-two (32) generating assets.

Privatized Generating Power Plants

Power Plant Rated Capacity
(in MW)
Location Bid Date Turnover Date Winning Bidder Winning Bid Price
PSALM Owned Generating Plants
Talomo Hydroelectric Power Plant 3.5 Davao 25 March 2004 19 Jan. 2005 Hydro Electric Development Corporation USD1,370,000
Agusan Hydroelectric Power Plant 1.6 Bukidnon 04 June 2004 29 March 2005 First Generation Holdings Corporation USD1,528,000
Barit Hydroelectric Power Plant 1.8 Camarines Sur 30 Sept. 2004 30 June 2005 People’s Energy Services, Inc. USD480,000
Cawayan Hydroelectric Power Plant 0.4 Sorsogon 30 Sept. 2004 30 June 2005 Sorsogon II Electric Cooperative, Inc USD410,410
Loboc Hydroelectric Power Plant 1.2 Bohol 10 Nov. 2004 30 June 2005 Sta. Clara International Corporation USD1,428,000
Pantabangan-Masiway Hydroelectric Power Plant 112 Nueva Ecija 06 Sept. 2006 17 Nov. 2006 First Gen Hydropower Corporation USD129,000,000
Magat Hydroelectric Power Plant 360 Isabela 14 Dec. 2006 25 April 2007 SN Aboitiz Power Corporation USD530,000,000
Masinloc Coal-Fired Thermal Power Plant 600 Zambales 26 July 2007 17 April 2008 Masinloc Power Partners Co. Ltd. USD930,000,001
Ambuklao-Binga Hydroelectric Power Complex 175 Benguet 28 Nov. 2007 10 July 2008 SN Aboitiz Power Hydro Inc. USD325,000,000
Tiwi-Makban Geothermal Power Plants 747.53 Albay 30 July 2008 25 May 2009 AP Renewables, Inc. USD446,888,008
Panay 1 and 3 and Bohol Diesel Power Plants 168.5 Iloilo/Bohol 12 Nov. 2008 25 March 2009 SPC Power Corp. USD5,857,553
Amlan Hydroelectric Power Plant 0.8 Negros Oriental 10 Dec. 2008 24 June 2009 SPC Power Corp. USD230,000
Batangas Coal-Fired Thermal Power Plant 600 Batangas 28 July 2009 03 Dec. 2009 Sem-Calaca Power Corp. USD361,709,000
Palinpinon-Tongonan Geothermal Power Plants 305 Negros Oriental & Leyte 02 Sept. 2009 23 Oct. 2009 Green Core Geothermal Inc. USD220,000,000
Bacon Manito Geothermal Power Plant 150 Sorsogon & Albay 05 May 2010 03 Sept. 2010 Bac-Man Geothermal Inc. USD28,250,000
Power Barge 117 100 Agusan del Norte 31 July 2009 01 March 2010 Therma Mobile Inc. USD16,000,000
Power Barge 118 100 Davao 31 July 2009 06 Feb. 2010 Therma Marine Inc. USD14,000,000
Limay Combined Cycle A&B 620 Bataan 26 Aug. 2009 18 Jan. 2010 San Miguel Energy Corp. USD13,502,000
Naga LBGT 55 Cebu 16 Oct. 2009 29 Jan. 2010 SPC Power Corp. USD1,008,000
Naga Power Plant Complex1 153.1 Cebu 31 March 2014 16 July 2018 Therma Power Visayas, Inc. PhP1,088,800,000
Angat Hydroelectric Power Plant 218 Bulacan 28 April 2010 31 Oct. 2014 Korea Water Resources Corp. (K-Water) USD440,880,000
Power Barges 101-103 96 Iloilo 30 Oct. 2013 08 July 2015 Trans-Asia Oil and Development Corporation USD9,310,000
Power Barge 104 32 - 15 April 2016 30 June 2016 SPC Island Corporation USD4,660,000
Malaya TPP 650 Rizal 07 May 2021 25 Aug. 2021 Belgrove Power Corporation PHP3,123,500.00

1 Pursuant to Supreme Court Decision on GR 212686 which became final and executory on 28 November 2016