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MANILA, Philippines — State-owned Power Sector Assets and Liabilities Management (PSALM) Corp. will rebid the 153-megawatt (MW) Naga Power Plant Complex (NPPC) in Cebu on September 4.
In a notice, PSALM said any party that will submit a letter of intent must be the one “that will participate in the privatization process, submit a bid and enter into pertinent agreements.”
The letter of intent must be submitted on or before September 4, alongside a confidentiality agreement and a non-refundable participation fee of P120,000.
“Once an interested party submits the confidentiality agreement and undertaking and pays the participation fee, such interested party may no longer be substituted in the privatization process, except through a consortium,” PSALM added.
On July 15, the PSALM bids and awards committee declared the bidding for the Naga power complex a failure because only one group submitted a bid. Bidding procedures treat a single submission enough prerequisite to cancel the auction.
The Naga power complex consists of 3 thermal power plants using a combination of diesel, bunker C oil and coal as fuel. The plants include:
- the coal-fired, 50-MW Cebu Thermal Power Plant 1
- the 56.8-MW Cebu Thermal Power Plant 2
- the 39-MW Cebu Diesel Power Plant 1, which consists of 6 diesel-fed power units with a capacity of 6.5 MW each
The contract is valued at P319.389 million. – Rappler.com