02 Jan 2014
With the lapse of the deadlines for the submission of the initial bidding requirements, Power Sector Assets and Liabilities Management (PSALM) Corporation President and Chief Executive Officer Emmanuel R. Ledesma, Jr. reported that a total of nine (9) investor groups have expressed interest in the sale of the decommissioned 850-megawatt (MW) Sucat Thermal Power Plant.
"As PSALM kicks off its 2014 privatization activities with the sale of the decommissioned Sucat plant, we're pleased to report the participation of these nine (9) investor groups, which is composed of six (6) Filipino and three (3) foreign firms," Mr. Ledesma said.
All nine (9) prospective bidders, Mr. Ledesma noted, have submitted their Letters of Interest before 19 December 2013 PSALM' deadline as published in its Invitation to Bid. They have likewise paid the PhP100,000.00 Participation Fee and executed a Confidentiality Agreement and Undertaking with PSALM before the 20 December 2013 deadline.
PSALM will gather the prospective bidders for the first time on 07 January 2014, 2:00 p.m. at its Makati City office for the Pre-Bid Conference.
The submission and evaluation of bids is scheduled on 12 March 2014, also to be held at the PSALM office.
PSALM is selling all plant equipment, structures, auxiliaries and accessories of the Sucat plant on an "as is, where is" basis.
Located in Sucat, Muntinlupa City, the Sucat plant is an oil-fired power plant that was previously owned by the Manila Electric Co., and later acquired by the National Power Corporation in November 1978. It consists of Unit 1, which has a rated capacity of 150 MW; Units 2 and 3, each with 200 MW; and Unit 4, which is rated at 300 MW.
Formerly known as the Gardner Snyder Thermal Plant, the Sucat plant officially commenced commercial operations on 01 August 1968 after the completion of Unit 1. Units 2-4 followed operations after their construction in 1970, 1971, and 1972, respectively.
In January 2000, Units 1 and 4 were decommissioned and placed under preservation. Units 2 and 3 followed later in January 2002.
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