10 May 2023
The Power Sector Assets and Liabilities Management Corporation (PSALM) has qualified eight (8) entities to proceed in the bidding for the sale of the 165-megawatt Casecnan Hydroelectric Power Plant (CHEPP) in Pantabangan, Nueva Ecija.
These entities include (1) Fresh River Lakes Corporation (2) Neptune Hydro Inc., (3) Global Hydro Power Corporation, (4) Panasia Energy Inc., (5) GigaAce 11 Inc., (6) Belgrove Power Corporation, (7) a consortium comprising EEI Power Corporation, Soosan ENS. Co. Ltd., Soosan Industries Co. Ltd., Mapalad Power Corporation and (8) Semirara Mining and Power Corporation.
“PSALM thoroughly scrutinized the eligibility documents of these eight vying entities,” said PSALM President and CEO Dennis Edward A. Dela Serna. “This process laid the groundwork for a successful and judicious sale of the Casecnan plant. We also made sure that the winning bidder will have a good return on investment from the power plant.”
The bidding for the Casecnan Plant is scheduled for 16 May 2023, with a submission deadline of 12:00 noon at Park Inn by Radisson North EDSA. The opening and evaluation of bids immediately follows. Further inquiries can be addressed to the Chairperson of the PSALM Bids and Awards Committee through email at pbacsec2022@psalm.gov.ph.
Strategic Communications and Partnership Division |