Naga Power Plant bidding fails

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.

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