12 Nov 2008
The government's hope of achieving its privatization threshold target this year hinges on the four investors who will contend for the 146.5-megawatt (MW) Panay and 22-MW Bohol diesel power plants that the Power Sector Assets and Liabilities Management Corporation (PSALM) will bid out today (12 November 2008).
PSALM, the government power privatization firm, will conduct the scheduled sale of the Visayas-based power plants, hoping to fulfill one of the remaining requirements for the implementation of open access and retail competition in Luzon and the Visayas as stipulated in the Electric Power Industry Reform Act: the sale of at least 70% of National Power Corporation's generating plants in the two grids.
The four investor groups, all Philippine corporations that have been actively participating in PSALM's bidding exercises, are expected to submit their offers based on their respective assessment of the Panay-Bohol power assets.
PSALM launched the Panay-Bohol sale last 16 July 2008, with five investor groups originally signifying interest.
Strategic Communications and Partnership Division