29 Apr 2021
The Power Sector Assets and Liabilities Management Corporation (PSALM) has scheduled the offer submission and evaluation proceedings on 07 May 2021 as part of the third round of negotiated sale process for the 650-megawatt Malaya Thermal Power Plant (MTPP) and its underlying land, located in Pililla, Rizal.
The 300-Megawatt Unit 1 and 350-Megawatt Unit 2 comprise the Malaya Thermal Power Plant. Included in the sale are the five lots underlying the entire power station and other plant accessories, with an estimated area of 246,459 square meters. The Purchased Assets are being sold by PSALM on an “As-Is, Where Is” basis.
AC Energy Corporation and Fort Pilar Energy, Inc. are the two (2) pre-qualified parties participating in the negotiated sale. They submitted all their documentary requirements within the deadline given, and these requirements were found to be in order and acceptable. The Minimum Offer Price (MOP) for this third round is set at PHP1,845,222,000.
MTPP is currently operational and being dispatched as a Must Run Unit (MRU) by the National Grid Corporation of the Philippines (NGCP), however, it is no longer required to run as an MRU on the closing date.
Proceeds of the sale will be used to augment funds needed to settle PSALM’s assumed financial obligations.
Corporate Communications Division