13 Jun 2007
Encouraged by the warm investor response to the ongoing privatization of the 600-megawatt (MW) Masinloc Coal-Fired Thermal Power Plant, the Power Sector Assets and Liabilities Management Corporation (PSALM) today formally reopened the third round of bidding for its other coal-fired power facility - the 600-MW Calaca Thermal Power Plant.
In an Invitation to Bid it published in local newspapers, PSALM announced that all interested parties who are keen on acquiring the Batangas-based generation asset may start submitting their Letters of Interest (LOIs) to participate in the bidding exercises. The deadline for submission of LOIs is on 29 June 2007.
To avail themselves of the Bidding Package, interested investor groups will also be required to execute a Confidentiality Agreement and Undertaking with PSALM and pay a non-refundable participation fee of USD2,000 not later than 04 July 2007.
PSALM will hold a Pre-bid Conference with qualified participants for the Calaca plant bidding on 18 July 2007 at its main office in Makati City.
Situated in Barangay San Rafael, Calaca, Batangas, the Calaca plant consists of two 300-MW generating units, which were commissioned on 11 September 1984 (Unit One) and 15 July 1995 (Unit Two). Primarily designed to run as a base-load plant, the Calaca facility can operate as a network-frequency regulating plant at a minimum stable load of 150 MW per unit. Both units are also designed for plant redundancy, which means that one unit can undergo maintenance without affecting the plant's full output.
The Calaca facility was first offered to prospective investors on 18 May 2005, but the auction was canceled after two of the three qualified bidders backed out shortly before the deadline for submission of offers.
The second round of bidding, which was held on 27 April 2006, was also declared a failure because the price proposals submitted by the two bidders were below the reserve price.
Strategic Communications and Partnership Division |