Bidding for Power Barges 101-104 fails

16 May 2012

The Power Sector Assets and Liabilities Management (PSALM) Corporation on Wednesday, 16 May 2012, declared the bidding for Power Barge Nos. 101-104 a failure after only one of the seven qualified bidders submitted an offer for the assets.

Only ACTA Power, a joint venture between the power companies of Ayala Corporation's AC Energy Holdings and PHINMA's Trans-Asia Oil and Energy Development Corporation, submitted the required bidding documents prior to the expiration of the bid submission deadline at 12 noon.

PSALM, in accordance with its bidding procedures, declares a failure of bidding when less than two bidders participate in the exercise.

According to PSALM President and Chief Executive Officer Emmanuel R. Ledesma Jr., the conduct of a second round of bidding for the power barges will be taken up with the PSALM Board of Directors for the latter's instructions. PSALM hopes to conduct the second round of bidding as soon as possible, subject to Board approval.

Commissioned in 1981, PB Nos. 101 and 102 are stationed at Bo. Obrero in Iloilo City. PB Nos. 103 and 104, which began operation in 1985, are moored in Botongon, Estancia, Iloilo, and at the Holcim Compound, Ilang, Davao City, respectively. Each power barge has an installed capacity of 32 megawatts.

Strategic Communications and Partnership Division
Tel. No. (632) 9029067