PSALM sets minimum bid price for Casecnan plant at $227 million

By Alena Mae S. Flores – April 11, 2023, 11:29 am
from manilastandard.net

State-run Power Sector Assets and Liabilities Management Corp. set the minimum bid price for the sale of the 165-megawatt Casecnan hydroelectric power plant at $227 million.

PSALM said in its latest supplemental bid bulletin its board set the MBP for CHEPP at $227,272,727.28 upon the recommendation of the Privatization Bids and Awards Committee.

PSALM said the winning bidder would be required to enter into operation and maintenance agreements for the non-power components of the plant and for the transbasin facilities.

PSALM pre-qualified seven bidders of the 14 companies that submitted letters of interest for the privatization of CHEPP.
The pre-qualified bidders are Fresh River Lakes Corp. of First Gen Corp., Neptune Hydro Inc. of SN Aboitiz Power Corp., Global Hydro Power Corp. of Global Business Power Corp., Panasia Energy Inc., Yuchengco-owned EEI Power Corp. in partnership with Soosan ENS CO. LTD., Soosan Industries Co. Ltd. and Mapalad Power Corp., GigaAce 11, Inc. of ACEN Corp. and Romero-owned Belgrove Power Corp.

PSALM moved the bid submission deadline for the CHEPP to May 16 from April 18 to give time for bidders’ comments and National Irrigation Administration’s inputs.

PSALM set the post-qualification of the highest ranking bidder on May 17 to 23 from April 19 to 25.

Issuance of the notice of award to the winning bidder is scheduled on May 26 from May 18.

The CHEPP is a “run-of-river” type of power plant with limited impounding area at Sitio Pauan, Barangay Villarica, Pantabangan, Nueva Ecija.

The CHEPP was covered by a build-operate-transfer agreement which ended on Dec. 11, 2021.