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GOVERNMENT-run Power Sector Assets and Liabilities
Management Corp. (PSALM) said it will proceed with the
planned sale of the 146.5-megawatt (MW) Panay and 22-MW
Bohol diesel power facilities with the issuance of an
Invitation to Bid (ITB) for the generation plant
package.
Interested parties should submit a Letter of Interest to
PSALM not later than 5 pm of July 30 and are also
required to pay a nonrefundable fee of $2,000.
PSALM
said qualified investor groups can conduct due diligence
from July 17 to October 27, 2008. The pre-bid conference
for the prospective bidders August 6, while the bid date
is set on October 29, 2008.
In its
original asset sale schedule for 2008, PSALM packaged
the Panay diesel plant with the 192.5-MW Palinpinon
geothermal plant. But because the long-term steam supply
agreement to be attached to the Palinpinon plant still
has to be approved by the Joint Congressional Power
Commission (JCPC), the PSALM Board decided to move the
sale of the geothermal asset to 2009.
The
PSALM Board formally announced the withdrawal of the
bidding for the Palinpinon-Panay package in a
Supplemental Bid Bulletin (SSB) it issued last 03 July
2008 to the prospective bidders, which clarifies reports
that the privatization of the Palinpinon plant was moved
to November.
The
Panay Diesel Power Plant facility consists of the
36.5-MW Panay 1 Diesel Power Plant and the 110-MW Panay
3 Diesel Power Plant. Panay 1 was commissioned in 1979,
while Panay 3, which is also known as the Pinamucan
Diesel Power Plant, was relocated from its Batangas site
after the expiration of the BOT (Build-Operate-Transfer)
contract with Enron Power Development Corp. in 2003.
The
plant was transferred to its present location to prevent
a potential near-term power shortage and to provide
voltage stabilization in the island of Panay.
The
Panay 1 and 3 diesel plants are the only land-based
facilities of the National Power Corp. in the island.
They are peaking plants that provide ancillary services
such as backup power, load following, system frequency
and voltage regulation. The Bohol Diesel Power Plant,
National Power’s first diesel plant in the country’s
Jewel Island, was originally constructed together with
the 1.2-MW Loboc hydro plant to provide electricity to
nearby towns. |
