The Power Sector Assets and Liabilities Management Corp. (PSALM) officer-in-charge Lourdes Alzona said Wednesday the bidding of 650-megawatt (MW) Malaya Thermal Power Plant Complex (MTPP) in Pililia, Rizal has been reset from March 8 to March 30.
“The final transaction document will take into consideration the requirement of the Department of Energy for Malaya to be converted to a base load LNG plant. This is currently under discussion and we will defer to our Board,” Alzona said.
PSALM issued a Supplementary Bid Bulletin last week to the bidders informing them of the revised bid schedule.
At least four companies are vying for the sale and privatization of MTPP. These are APT Global, Inc., PHINMA Energy Corp., Riverbend Consolidated Mining Corp., and AC Energy Holdings, Inc.
The 41-year-old Malaya plant was first rehabilitated in 1995 by the Korea Electric Power Corp. under a 15-year rehabilitate-operate-manage-maintain agreement. It 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.