Nine investor groups are interested to participate in the bidding of the decommissioned 850-megawatt (MW) Sucat Thermal Power Plant.
Emmanuel Ledesma Jr., Power Sector Assets and Liabilities Management Corp. (Psalm) president and chief executive officer, announced on Thursday that a total of nine investor groups have expressed interest in the sale of the decommissioned Sucat Thermal Power Plant.
“As Psalm kicks off its 2014 privatization activities with the sale of the decommissioned Sucat plant, we’re pleased to report the participation of these nine investor groups,” he said.
According to Ledesma, the nine prospective bidders are composed of six Filipino and three foreign firms.
Located in Sucat, Muntinlupa City, the Sucat plant is an oil-fired power plant that was previously owned by the Manila Electric Co., and acquired by the National Power Corp. in November 1978. It consists of Unit 1, which has a rated capacity of 150 MW; Units 2 and 3, each with 200 MW; and Unit 4, which is rated at 300 MW.
Formerly known as the Gardner Snyder Thermal Plant, the Sucat plant officially commenced commercial operations on August 1, 1968, after the completion of Unit 1. Units 2 to 4 followed operations after their construction in 1970, 1971 and 1972, respectively.
In January 2000, Units 1 and 4 were decommissioned and placed under preservation. Units 2 and 3 followed later in January 2002.
Ledesma mentioned that the interested parties submitted their letters of interest before December 19, 2013, which was Psalm’s deadline for the particular project as published in its invitation to bid.
The companies have also paid the P100,000 participation fee, and executed a confidentiality agreement and undertaking with Psalm before the December 20, 2013, deadline.
Psalm will gather the prospective bidders for the first time on Tuesday next week at 2 p.m. at its Makati City office for the pre-bid conference.
The submission and evaluation of bids is scheduled on March 12, 2014, also to be held at the Psalm office.
Psalm is selling all plant equipment, structures, auxiliaries and accessories of the Sucat plant on an “as is, where is” basis.