Four investors interested in Naga power plant

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Four local groups have expressed interest in the 153.1-megawatt (MW) Naga Power Plant complex after the state-run Power Sector Assets and Liabilities Management Corp. (Psalm) held the third round of bidding earlier this month, Psalm president and chief executive officer Emmanuel Ledesma Jr. said on Friday.

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Psalm failed to award the Naga Power Plant complex on two occasions last year because of a lack of interest from investors.

“The third round of bidding for the sale of the 153.1-MW Naga Power Plant has drawn the interest of four investor groups . . . The interested parties for this bid are all Filipino companies with various interests in the local energy industry, and all four groups have completed the initial requirements,” Ledesma said in a text message. The identities of the groups that have shown interest in the Naga Power Plant were not disclosed.

“I may only disclose the name of the bidders after the pre-bid conference on Monday. By [that]time, the seriousness of the bidders to participate in the bidding is [supposed to be]ascertained,” Ledesma further said in the text message.

Situated in Colon, Naga City, Cebu, the Naga Power Plant consists of two thermal power plants and one diesel-fired power plant that uses a combination of coal, bunker C oil and diesel as fuel. These are the 52.5-MW Cebu 1 and 56.8-MW Cebu 2 coal-fired thermal power plants, and the 43.8-MW Cebu Diesel Power Plant 1 composed of six 7.3-MW bunker-C fed power units.

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