Sucat Thermal Power Plant attracts 10 bidders

By Juzel L. Danganan

MANILA, Dec 1 (PNA) – Two foreign firms are keen on acquiring the decommissioned 850-megawatt (MW) Sucat Thermal Power Plant, according to state-owned Power Sector Assets and Liabilities Management Corp. (PSALM) Tuesday.

In a statement Tuesday, the government-owned and controlled corporation (GOCC) said the power facility’s pre-bid conference had 10 participants last Friday (Nov. 27), with two foreign companies.

The power plant bidding, consisting of the structures, power plant equipment, auxiliaries and accessories, initially attracted 12 firms.

PSALM acting vice president and general counsel Atty. Cecilio Gellada Jr., welcomed the potential bidders, saying “PSALM is pleased with the interest shown by investors in this privatization activity, which is among the highly participated disposal initiatives of the Corporation. It has attracted 12 prospective bidders, two of which are foreign companies. We are appreciative of the continued enthusiasm of the private sector for the government’s privatization program.”

However, PSALM did not name the interested firms.

The GOCC added it is selling the power facility and its accessories through an “as is, where is” basis.

Gellada also assured the potential bidders that the process will be efficient, fair and transparent.

The bidding for the power plant was set on Feb. 17, 2016.

The 850-MW power plant is an oil-fired power plant, which was completely decommissioned in January 2002.

It was initially owned by the Manila Electric Co. (Meralco) but was acquired by the National Power Corp. (NAPOCOR) in November 1978.

The Sucat-based power plant started commercial operations on Aug. 1, 1968.

The power station is composed of four units, with one 150 MW, two 200 MWs and one 300 MW capacities.

PSALM was created to privatize the assets of the National Power Corp., after it incurred huge losses. (PNA)