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.
“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.