The Power Sector Assets and Liabilities Management Corp. (PSALM) pushed back anew the deadline for the bid submission of the privatization of the 650 megawatts Malaya thermal power plant (TPP) and its underlying land in Rizal from September 12 to September 18.
In its Supplemental Bid No. 10, the state-run firm said the extension will give interested bidders more time to comply with the new requirement from the Office of the Government Corporate Counsel.
The winning bidder is now required to observe and abide with the guidelines of the Philippine Competition Commission as the transaction falls under acquisitions as defined under the Philippine Competition Act.
Malaya TPP’s privatization will be under 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.
Last year, PSALM declared Soosan ENS Co., Ltd. as the winning bidder for the one-year operation and maintenance service contract of the Malaya TPP for P208.7 million.