PSALM studies Casecnan valuation

By Alena Mae S. Flores – November 28, 2021 at 08:05 pm
from manilastandard.net

State-run Power Sector Assets and Liabilities Management Corp. said it is studying the valuation of the Casecnan hydro power plant, a 165-megawatt combined irrigation and power generation facility in preparation for its planned privatization next year.

“We are working on the valuation of Casecnan,” PSALM president and chief executive Irene Besido-Garcia said.

PSALM lined up the Casecnan power facility as one of the big-ticket power projects for privatization in 2022. CE Casecnan Water and Energy Company Inc. operates the facility by virtue of an independent power producer Build-Operate-Transfer contract with the National Irrigation Administration which will expire on December 11. After the agreement expires, NIA will own 40 percent, while PSALM will own 60 percent of Casecnan.

NIA allowed PSALM to handle the procurement of operation and maintenance service contract and to start the preparation for privatization of the Casecnan facility.