By Myrna M. Velasco – February 8, 2021, 6:00 AM from Manila Bulletin
The Power Sector Assets and Liabilities Management Corporation (PSALM) has scaled down the reserve price for the 650-megawatt Malaya thermal power facility to P1.845 billion from P2.007 billion for the third round of negotiated sale.
This followed after the company failed on its second attempt to sell the thermal power plant. PSALM has set the deadline of submission of tenders for the third round of privatization attempt on April 23 this year.
PSALM President Irene B. Garcia indicated that there had been compelling factors that triggered such decision, including “lower electricity demand, book value of the plant and its land.”