Discussions are underway for potential development projects after the Sucat Thermal Power Plant (STPP) is dismantled and its physical assets removed from the site, state-run Power Sector Assets and Liabilities Management Corp. (Psalm) said on Thursday.
“Dismantling the Sucat plant will pave the way for the rise of a new development project that will benefit the host community and the country, in general,” Psalm Officer-in-Charge Lourdes Alzona said.
Initial talks revolve on transforming the site into an energy-related project, a transportation hub, or an economic zone.
Riverbend Consolidated Mining Corp. will carry out the disposition of the plant structures.
It paid Psalm P305.2 million for the power plant on July 31. The mining company bested the P201.6 million financial offer of VPD Trading and the P168 million of G.G. Uy Bonapor Metal Contractor Co.
As the winning bidder, Riverbend was obliged to dismantle, clean up, and remediate the site—meaning it should return the site to ground zero free and clear of waste materials, toxic substances, debris, and structures.
The Sucat plant was operating for 33 years before Units 1 and 4 were decommissioned in January 2000. Units 2 and 3 were closed in January 2002.
It was supposed to be converted into a gas plant, but studies showed the capital cost for such venture would be higher than building a totally new power facility.
Psalm will decommission the pipeline embedded in the plant site connecting the Sucat Plant, Rockwell Power Plant, and the Manila Thermal Power Plant.