Bid deadline for Malaya plant moved

By Jordeene B. Lagare – April 7, 2021
from The Manila Times

THE Power Sector Assets and Liabilities Management Corp. (Psalm) has moved the bid submission deadline for the sale of the 650-megawatt Malaya Thermal Power Plant.

In a statement on Tuesday, Psalm said the offer submission deadline was adjusted to May 7 from April 23.

Also, the deadline for the submission of the documentary deliverables is rescheduled for April 21 from April 7.

“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),” said the state-led firm in a statement on Tuesday.

The government earlier announced the extension of the ECQ in Metro Manila, Laguna, Bulacan, Cavite and Rizal until April 11.

“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,” it added.

Psalm said AC Energy Corp., Fort Pilar Energy Inc. and VBB Trucking, Trading and Consultancy Services Inc. are the three interested parties in the negotiated sale process of the Malaya thermal facility and its underlying land.

Located in Pililla, Rizal, the Malaya thermal plant is currently operational and is being dispatched as a must-run unit (MRU) by the National Grid Corp. of the Philippines.
Once privatized, the thermal plant is no longer required to run as an MRU.

Proceeds of the sale will be utilized to augment funds needed to settle Psalm’s financial obligations, which it assumed from the National Power Corp.

Psalm has trimmed its financial obligation to P381.72 billion in 2020, a decrease of P858.881 billion from the 2003 level of P1.24 trillion.