15 Apr 2010
The Power Sector Assets and Liabilities Management (PSALM) Corporation last Wednesday (14 April 2010) officially launched the bidding for the management of the government's contracted capacity in the 650-megawatt (MW) Malaya Thermal Power Plant Complex located in Pililia, Rizal.
In a published Invitation to Bid that will run in local newspapers until today, 16 April 2010, PSALM stated that it is looking for interested parties that will administer the Malaya contract as an independent power producer administrator (IPPA). The bid exercise for the appointment of an IPPA is scheduled on 16 June 2010.
Prospective bidders must submit a Letter of Interest formally declaring their intention to participate in the bid process on or before 21 April 2010.
The interested parties must also execute a confidentiality agreement and undertaking with PSALM, and pay a non-refundable participation fee of USD5,000.00. The deadline for these prerequisites is on 28 April 2010. PSALM will then issue the Bidding Package, which will contain details of the IPPA appointment for the Malaya Contracted Capacity, from 26 April 2010 to 30 April 2010.
Due Diligence on the Malaya power asset starts on 14 April 2010 until two business days prior to the bid date, while the Pre-bid Conference will be held on 12 May 2010.
The Malaya power facility was rehabilitated in 1995 by the Korea Electric Power Corporation under a 15-year rehabilitate-operate-manage-maintain agreement. It consists of a 300-MW unit with a once-through type boiler, and a 350-MW unit fitted with a conventional boiler.
Under the proposed structure, the administrator will trade the contracted capacity of the facility in the Wholesale Electricity Spot Market. The transfer of ownership of the rehabilitated power plant complex to the administrator is scheduled in the first quarter of 2011.
Corporate Communications Division