19 Feb 2010
At least 12 prospective investors participated in the pre-bid conference for the privatization of the 246-megawatt Angat Hydroelectric Power Plant (HEPP) that the Power Sector Assets and Liabilities (PSALM) Corporation conducted last Wednesday (17 February 2010).
The interested parties met with PSALM officials and the technical working group to discuss the sale structure of the Angat HEPP. The pre-bid conference provided the participants an opportunity to clarify their respective issues and concerns on the bidding procedures for the Angat HEPP privatization.
During the open forum, PSALM President Jose C. Ibazeta again stressed that despite the privatization of the Angat power facility, the use of water from the Angat Dam for domestic purposes and irrigation will remain the priority over power generation as stipulated in law and in the bidding provisions for the Angat HEPP.
This priority was also explained and emphasized in last week's forum for the privatization of the Angat HEPP where PSALM provided a broader perspective of the structure and pertinent provisions of the sale of the power facility.
Representatives from the National Power Corporation also attended the pre-bid conference to provide more technical details on the operation of the power plant.
PSALM launched the sale of the Angat HEPP last 10 January 2010 through the publication of an Invitation to Bid. The government power privatization firm has set the plant's bidding on 28 April 2010.
The Bulacan-based hydro facility operates through the Angat Dam, which supplies the water requirements of Metro Manila, Bulacan - the host province - and neighboring provinces.
Corporate Communications Division