07 Nov 2013
The Power Sector Assets and Liabilities Management (PSALM) Corporation today (07 November 2013) has reported that the second round of bidding for the 153.1-megawatt (MW) Naga Power Plant was declared a failure after only one bidder, SPC Power Corporation, submitted a bid.
Under PSALM's Bidding Procedures, the PSALM Privatization, Bids and Awards Committee will automatically declare a failure of bidding if only one bidder submits a bid.
With the result, PSALM said it will consult with its Board of Directors regarding its plans for the Cebu-based power plants.
The Naga Power Plant consists of the 52.5-MW Cebu 1 and 56.8-MW Cebu 2 coal-fired thermal power plants, and the 43.8-MW Cebu Diesel Power Plant 1 composed of six (6) 7.3-MW bunker-C fed power units. The power plants are located in Barangay Colon, Naga City, Cebu.
Strategic Communications and Partnership Division