06 Apr 2021
The Power Sector Assets and Liabilities Management Corporation (PSALM) Corporation has rescheduled the deadline for the submission of the documentary deliverables for the privatization of the 650-megawatt Malaya Thermal Power Plant (MTPP), from 07 April 2021 to 21 April 2021. Consequently, the offer submission deadline was also adjusted from 23 April 2021 to 07 May 2021. These adjustments in the dates were done in recognition of the challenges that bid participants may face in securing necessary documents while Metro Manila is under Enhanced Community Quarantine (ECQ).
The new timeline will allow negotiating parties more time to complete their documentary deliverables submissions, especially in securing documents that need to be certified by issuing agencies.
There are three (3) interested parties participating in the negotiated sale process of the Malaya Thermal Power Plant and its underlying land, namely: (a) AC Energy Corporation, (b) Fort Pilar Energy Inc. and (c) VBB Trucking, Trading and Consultancy Services, Inc.
The MTPP and its underlying land are located in Pililla, Rizal. The MTPP is currently operational and is being dispatched as a Must-Run Unit (MRU) by the National Grid Corporation of the Philippines (NGCP). On closing date, however, the MTPP is no longer required to run as an MRU.
Proceeds of the sale will be utilized to augment funds needed to settle PSALM’s assumed financial obligations.
Corporate Communications Division