STATE-RUN Power Sector Assets and Liabilities Management Corp. (Psalm) has declared a failure of bidding for the privatization of the 153.1-megawatt (MW) Naga Power Facility in Cebu after only one interested group was deemed compliant with documentary requirements.

“The Psalm privatization, bids and awards committee [PBAC], in its July 15 meeting, resolved to declare the proposed sale of the 153.1-megawatt Naga Power Plant as failure of bidding,” Emmanuel Ledesma Jr., Psalm president and chief executive officer, said in a text message to reporters.

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details