24 Jan 2007
Nine of 10 interested parties recently participated in the pre-bid conference conducted by the Power Sector Assets and Liabilities Management Corporation (PSALM) as part of the preparations for the forthcoming auction of the 200-megawatt (MW) Manila Thermal Power Plant (MTPP). Located at Isla del Provisor in Ermita, the MTPP is one of the National Power Corporation's retired or decommissioned power facilities.
Aside from discussing the mechanics of the Bidding Procedures for the MTPP, PSALM addressed some issues and concerns raised by the prospective bidders. These included bid security, mode of payment, formation of consortiums, and other legal requisites.
PSALM is currently finalizing the draft of the transaction documents for the decommissioned facility that the government's privatization firm has scheduled for sale this semester.
The MTPP is the first retired National Power asset that PSALM hopes to successfully sell as scrap on an "as is, where is" basis.
Commissioned in 1965, the MTPP consists of two operational units, each with a rated capacity of 100 MW. MTPP was retired in January 2000.
In addition to the MTPP, National Power has four other retired plants in its portfolio: the 225-MW Bataan (bunker), the 54-MW Cebu II (diesel), the 22.3-MW General Santos (diesel), and the 108-MW Aplaya (diesel) power plants.
Strategic Communications and Partnership Division |