4 firms vie for Malaya Thermal Plant – PSALM

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AT least four companies are vying for the 650-megawatt (MW) Malaya Thermal Power Plant Complex (MTPP) in Pililia, Rizal, according to the Power Sector Assets and Liabilities Management Corp. (PSALM).

Lourdes Alzona, PSALM officer-in-charge president and chief executive officer, said in a text message Tuesday night that after the deadline for the submission of Letters of Interest (LOI) on Tuesday, December 20, only four companies had replied.

“Today was deadline for submission of LOI. As of 5 pm, [December 20] PSALM received four letters from the following: APT Global, Inc., PHINMA Energy Corp., Riverbend Consolidated Mining Corp., and AC Energy Holdings, Inc,” Alzona’s text message read.

She said the bidding for MTPP is scheduled on March 8 next year.


The 41-year-old Malaya plant was first rehabilitated in 1995 by Korea Electric Power Corp. under a 15-year rehabilitate-operate-manage-maintain agreement. The plant consists of a 300-MW unit with a once-through type boiler and a 350-MW unit fitted with a conventional boiler.

PSALM is the government agency responsible for the privatization of state-owned power assets and other properties. Remaining big power assets still under its management which can be privatized includes the 982 MW Agus-Pulangui hydropower complex.

PSALM earlier said it is hoping to release bidding forms and documents for the structures, plant equipment, auxiliaries and accessories of the decommissioned 850 MW Sucat thermal power plant (STPP) in Muntinlupa City by year-end.

“We started preparing for transaction documents but its final schedule will depend on the receipt (of clearances) from DENR ((Department of Environment and Natural Resources). Our target date of (getting the clearances) could be at the early part of 2017 so that means (the asset can be privatized) by the first half,” Alzona said recently.

PSALM intends to optimize the proceeds to be generated from the STPP sale and use the revenue to contribute to liquidating the financial obligations it assumed from the National Power Corp.

According to Alzona, the disposal of the decommissioned plant is in support of the government’s natural gas master plan to make the land where the Sucat plant is located available by mid-2018 for the possible construction or operation of a combined-cycle gas turbine power plant.

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