Privatization for Sucat TPP garners six bidders

20 Mar 2017

Following the publication by PSALM Corporation of the Invitation to Bid (ITB) in three major newspapers for the packaged sale of the structures, plant equipment, auxiliaries and accessories comprising the decommissioned 850 MW Sucat Thermal Power Plant (STPP), the privatization of the asset has garnered six bidders who attended PSALM Corporation’s Pre-Bid Conference held today (20 March 2017) in Quezon City. This conference was held to clarify provisions on the sale of STPP and is expected to help the bidders arrive at an optimal business decision, among other concerns.

After the pre-bid, PSALM Corporation will proceed to the Bid Opening for STPP which is set on 31 May 2017 at 12 noon.

Since the submission of the Letter of Interest (LOI) has been lengthened to attract more participants and generate a more competitive privatization process for STPP, PSALM will still accept LOIs, including other documentary deliverables, from prospective bidders even after the pre-bid, until 12:00 pm of 24 April 2017.

For the convenience of prospective bidders, important forms and procedures are downloadable by clicking in the PSALM website. Necessary information and documents such as the Bidding Procedures, Data Room and Due Diligence Procedures, Confidentiality Agreement Form, Undertaking and Waiver Form, Bidder’s Information Sheet and Bidders Participation Process Guide are found in the website.

“The successful sale of this asset advances the interest of the government as the proceeds will be part of the additional funding source for the liquidation of the National Power Corporation’s debts assumed by PSALM,” Officer-in-Charge Lourdes S. Alzona said in the Pre-Bid Conference.

Corporate Communications Division
Tel. No. (632) 9029067