STATE-run Power Sector Assets and Liabilities Management Corp. (PSALM) has opened the bidding for the appointment of a private company to operate the 200 megawatts Mindanao Coal, a coal-fired thermal power plant in Misamis Oriental.
PSALM President and Chief Executive Officer Emmanuel Ledesma Jr said the agency has published in local newspapers the tender for an Independent Power Producer Administrator (IPPA) of Mindanao Coal.
The Mindanao Coal IPPA selection is the second privatization activity of PSALM for this year, Ledesma said.
Interested parties must submit not later than 5 p.m. on April 7 a Letter of Interest, execute a confidentiality agreement and pay non-refundable fee of P120,000. Deadline for submission of requirements is on or before 5 p.m. on April 13.
The pre-bid conference on the bidding procedures is on May 6. Due diligence for prospective bidders will begin on April 13 until two days before the submission deadline.
The bidding is scheduled on September 23 and the bid submission deadline is 12 noon. The opening and evaluation of bids would follow immediately at 12:30 p.m.
Mindanao Coal plant was constructed in 2006 under a 25-year Build-Operate-Transfer (BOT) – Power Purchase Agreement scheme. The cooperation period with the operator, STEAG State Power Inc., officially ends in 2031.