PSALM holds pre-bid conference for the sale of Malaya power plant and its underlying land

25 Oct 2019

The Power Sector Assets and Liabilities Management Corporation (PSALM) held a pre-bid conference on 24 October 2019 as part of the second round of bidding for the privatization of the 650-megawatt Malaya Thermal Power Plant (MTPP) and its underlying land. MTPP is located in Pililla, Rizal.

There are four interested bidders namely Panasia Energy, Inc., Phinma Energy Corp, Hill Trench Power, Inc. and Therma Central Visayas Inc. They all sent representatives to the pre-bid conference.

“The pre-bid conference enabled interested bidders to ask questions and request for clarifications relative to the bidding requirements. This is integral to ensuring that the bidders can eventually submit bids and documents that are responsive to technical requirements of PSALM,” PSALM President and CEO Irene Besido-Garcia said.

The MTPP is currently operational and being dispatched as a Must Run Unit (MRU) by the National Grid Corporation of the Philippines. However, per the Department of Energy’s (DOE) direction, once privatized, MTPP is no longer required to run as an MRU.

The last day for the Submission of Documentary Deliverables is on 07 November 2019 at 5:00 PM. PSALM will then check the completeness of the submitted documents and announce the prequalified bidders. Prior to the bid submission deadline, the PSALM Board, upon recommendation of the PSALM Bids and Awards Committee (PBAC), will meet to determine the Reserve Price for the plant and its underlying land. Qualified bidders will then be informed of the Reserve Price. The Bid Submission Deadline is set on 22 November 2019 at 12:00 noon followed by the opening and evaluation of bids on the same day.

In the event of a failure of bidding because there is only one bid received, the PBAC will declare a failure of the second round of bidding. Negotiation with the lone bidder will immediately commence in accordance with Schedule 8 - Negotiation Procedure of the Bidding Procedures.

Corporate Communications Division
Tel. No. (632) 9029067