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AFTER
having failed bids in the past, the Power Sector Assets
and Liabilities Management Corp. (PSALM) has finally
succeeded in bidding out the Batangas-based 600-megawatt
Calaca coal power.
On
Tuesday PSALM awarded the power plant to the consortium
of Calaca Holdco Inc. (CHI) after it offerred $786.53
million.
PSALM
said the bidders submitted their respective offers
before the 12- noon deadline.
All
bidders offered bids above the reserve price set by the
government. PSALM, however, did not disclose the reserve
price.
Incorporated on
June 13, 2007, CHI was established as a special-purpose company through
which Suez-Tractebel S.A. would bid for and hold the
Calaca power plant.
CHI is
wholly owned by Suez-Tractebel through its wholly owned
subsidiary Belgelectric Finance B.V.
Suez-Tractebel
is
Belgium’s
top utility holding company and one of the world’s top
independent power producers, with operations in more
than 100 countries on five continents.
CHI will
be declared the winning bidder as soon as PSALM has
verified the accuracy, authenticity and completeness of
all the bid documents that the consortium had submitted.
PSALM
will then issue the Notice of Award to CHI, formally
signifying that the consortium is the winning bidder for
the Calaca plant.
The
Calaca facility has been allocated a substantial
287-megawatt power-supply contract, or about 48 percent
of the plant’s rated capacity, which will provide the
new owner a ready market for the electricity that the
power plant will generate.
The
Manila Electric Co. will assume the biggest portion of
the contracted energy which is equivalent to 169
megawatts.
Of the
31 National Power Corp. plants identified for
privatization, PSALM has now successfully bid out 10
plants, which translates to 1, 680.5-megawatt operating
capacity, or 38.76 percent of the 4,335.70-megawatt
aggregate capacity of all generating plants in Luzon and
the Visayas. |
