PSALM: 32-MW power barge sold

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SPC Island Power Corp. (SIPC) submitted the highest offer for the negotiated sale of the 32-megawatt Power Barge (PB) 104, the Power Sector Assets and Liabilities Corp. (PSALM) reported on Friday after closing the bidding in its Makati City office.

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“SIPC was declared the negotiating party with the highest offer after it bested two other companies with its P218,899,999 proposal,” said PSALM Officer-in-Charge Lourdes Alzona.

PSALM Privatization Bids and Awards Committee will report the results of the negotiated sale to the PSALM Board, then subsequently issue a Notice of Award upon completion of the negotiation process.

The two other companies who joined the negotiated sale were Trans-Asia Oil and Energy Development Corp. and D.M. Wenceslao & Associates Inc.

PB 104 was commissioned in 1981 and started operation in 1985. It is located at the Holcim Compound, Ilang, Davao City.

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