10 Mar 2021
Four interested parties, namely, Sta. Clara International Corporation, VBB Trucking Trading and Consultancy Services, Inc., Fort Pilar Energy, Inc., and AC Energy Philippines, Inc., participated in the pre-negotiation conference that the Power Sector Assets and Liabilities Management Corporation (PSALM) held on 09 March 2021, as part of the third round of negotiated sale process for the Malaya Thermal Power Plant (MTPP) and its underlying land.
The pre-negotiation conference provided the interested parties an opportunity to clarify any issues they may have on the provisions of the negotiated sale.
The offer submission deadline for these assets is on 23 April 2021 at 12:00 noon.
The Minimum Offer Price (MOP) in this negotiated sale is lowered to PHP1,845,222,000.00 from the MOP in the second round of negotiated sale, which was in the amount of PHP2,007,780,000.00.
“We welcome the inputs and comments from the interested parties on the terms of the negotiated sale process. Their active participation in the pre-negotiation conference makes us very optimistic that they will participate in the Offer Submission Deadline this coming April.” said PSALM President and CEO Irene Besido-Garcia.
Located in Pililla, Rizal, the MTPP is comprised of 300-MW Malaya Thermal Power Plant 1 and 350-MW Malaya Thermal Power Plant 2. It is currently operational and being dispatched as a Must Run Unit (MRU) by the National Grid Corporation of the Philippines. However, upon Closing Date, the MTPP is no longer required to run as an MRU.
Proceeds from the successful sale of MTPP will be used to augment funds needed to settle PSALM’s financial obligations.
Strategic Communications and Partnership Division |