The Power Sector Assets and Liabilities Management (PSALM) Corp. will start selling 10,000 hectares of land it owns this year to pay off debts.
PSALM President and Chief Executive Officer Emmanuel Ledesma Jr. said 60 percent of the land or 6,000 hectares are in Luzon.
To be sold are sites of decommissioned power plants, lands not related to power generation, lands under land lease agreements, which were previously offered for sale to new power plant owners or successor generating companies (SGCs) but remain unsold.
“It will also help in the government’s energy security thrust and facilitate local and national development by identifying possible sites for future power facilities and or new economic ventures,” Ledesma said.
Based on its latest database, PSALM’s real estate assets consist of 6,414 lots with an aggregate area of 102 million sq.m or 10,000 hectares.
With a total of two million sq.m. (1,975,670 sq.m.) already sold to SGCs, a total of 100 million square meters. consisting of 6,160 lots were considered for the project.
These are classified as alienable and disposable (5,991 lots with a total area of 74,878,955 sq.m.); inalienable (107 lots with a total area of 22,367,145 sq.m.); and lands with ongoing titling documentation (62 lots with a total area of 3,192,687 sq.m.).
Ledesma said that inalienable lands will be excluded from the privatization program.
Per location, 60 percent (4,771 lots with a total area of 59,821,616 sq.m.) of the real estate assets are located in Luzon.
While 39 percent (1,284 lots with a total area of 39,260,003 sq.m.) are in Mindanao, and 1 percent (105 lots with a total area of 1,357,169 sq.m.) are scattered in the Visayas region.