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By Euan Paulo C. Añonuevo, Reporter
A large number of investors have
expressed interest in the Masinloc coal-fired power plant, which the
Power Sector Assets and Liabilities Management Corp. is set to
auction off anew in July.
Froilan Tampinco, PSALM
vice-president for asset management and electricity trading group,
said 23 groups have formally submitted letters of interest to PSALM
of which 15 are foreign companies—seven from Asia, four from the
United States and four from Europe.
Among the big names queing up for
the 600-MW Masinloc coal power plant in Zambales are Korea Electric
Power Corp.; First Gen Corp.; Trans Asia Oil and Energy Development
Corp.; US-based AES Corp. and CalEnergy; and investment firm Ashmore
and One Energy.
Prebid conference for the
Masinloc power plant is on May 8, while bidding proper is at 12 noon
of July 26 at the PSALM office in Makati.
This will be the second time the
Masinloc power plant will be auctioned off after PSALM, the
government asset management company tasked to privatize Masinloc,
voided the initial sale to the consortium of YNN Pacific and Ranhill
Berhad of Malaysia following the group’s failure to deliver about
$227 million in upfront payment.
Tampinco said PSALM is working
with the Department of Energy for a supply contract to be attached
to the sale of the power plant.
“The asset by itself is an
attractive investment. We are adding value to it by way of the
supply contracts,” he said, adding [we hope] to come up with a
working framework with Napocor within the week.”
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