STATE-run Power Sector Assets and Liabilities Management (PSALM) Corp. has decided to rebid the privatization of the decommissioned 850-megawatt (MW) Sucat Thermal Power Plant in Muntinlupa.
PSALM on Thursday issued an invitation for a second bidding round following a failed auction in March last year where the highest bidder was said to have submitted a fraudulent performance bond.
In the latest invitation, PSALM said interested parties had until 5 p.m. of November 23 to submit their letters of intent. A pre-bid conference will be held on November 24 and final offers should be submitted on February 17, 2016.
Lourdes Alzona, PSALM president, has said that the Sucat facility would be offered anew. Last year’s failed auction was said to be a factor in the removal of her predecessor, Emmanuel Ledesma Jr.
The mothballed Sucat facility, which is being disposed on an “as is, where is” basis, was previously eyed for conversion into a natural gas facility.
During the first bidding, local firm Genetron International Marketing emerged as the highest bidder with a P602-million offer. Its certificate of effectivity was withdrawn following allegations that it had submitted a fake performance bond.
The firm, in its defense, said a third party had posted the bond.
The power plant was previously owned by Manila Electric Co and later acquired by the National Power Corporation (Napocor) in November 1978.
PSALM manages the assets and liabilities of Napocor.
The Sucat power plant consists of Unit 1, which has a rated capacity of 150 MW; Units 2 and 3, each rated at 200 MW; and the 300-MW Unit 4.
RITCHIE A. HORARIO