After last month’s failed bidding for the structures, plant equipment and land of the 650-megawatt Malaya Thermal Power Plant (TPP) in Pililla, Rizal, the Power Sector Assets and Liabilities Management Corp. (PSALM) is keen on completing the transaction next month.
In its bid bulletin, the state-run firm has set the start of due diligence for interested parties on October 7 and the pre-bid conference on October 24. All bid submissions will be accepted until November 22.
The property’s privatization last month failed when only one bidder, Ayala-led power generation firm AC Energy, submitted an offer.
Malaya TPP’s privatization will be under an as is, where is basis where the winning bidder will not be compelled to take over the power plant as a must-run unit for three years. A power project that is considered as a must-run unit has to provide backup power in instances when supply is deficient or unavailable in the Luzon Grid.