At least three firms have expressed interest to participate in the third round of bidding for the privatization of the 650 megawatts Malaya thermal power plant (TPP) and its underlying land in Pililla, Rizal.
The Power Sector Assets and Liabilities Management Corp. (PSALM) said AC Energy, Inc., Panasia Energy Inc. and Denki Power sent representatives to the pre-bid conference that was held last Friday, February 14.
Deadline for the submission of documentary deliverables is on March 12.
Opening of bids is on April 15.
Last November, Malaya TPP’s privatization failed for the second time as no bidder met the minimum bid price of P4,481,796,017.
PSALM is in talks with the Commission on Audit for the approval of a lower minimum bid price on the asset, slashing it by P400 million to P500 million which is the cost running the said facility.
COA has yet to approve the proposal.
In the last bidding, four pre-qualified bidders passed the initial stage: including Panasia Energy, Inc., Phinma Energy Corp, Hill Trench Power,Inc. and Therma Central Visayas Inc.
However, right before the deadline for submission of the financial bid, Fort Pilar Energy, Inc., Panasia Energy, Inc. and AC Energy sent letters to PSALM explaining that they cannot meet the minimum bid price.
