THE Power Sector Assets and Liabilities Management Corp. (PSALM) has again moved the deadline for the submission of bids for the ongoing third round of public bidding for the 650 megawatts (MW) Malaya thermal power plant (TPP) and its underlying land in Pililla, Rizal, from May 19 to June 30, 2020.
PSALM also adjusted the deadline for the filing of a request to bid as a consortium to May 11, while submission of documentary deliverables is rescheduled to May 15.
The release of asset purchase agreement to qualified bidders is moved to June 16, or not later than seven days prior to bid submission deadline.
PSALM will disclose the minimum bid price to qualified bidders immediately after securing the board’s decision on the request to allow a discounting mechanism that would lower the minimum bid price.
Last February, PSALM said at least three firms expressed interest in the bidding: AC Energy Inc., Panasia Energy Inc. and Denki Power.
Last November, Malaya TPP’s privatization failed for the second time as no bidder managed to meet the minimum bid price of P4,481,796,017.
PSALM is mandated to privatize power related assets owned by the government. However, its corporate life is only until 2026.
