PSALM rebids Power Barge 117
03 February 2009
The Power Sector Assets and Liabilities Management Corporation (PSALM) Monday (02 February 2009) began the second round of bidding for the 100-megawatt (MW) Power Barge (PB) 117 located in Barangay Sta. Ana, Nasipit, Agusan del Norte.
As stipulated in the Invitation to Bid (ITB) it is publishing in local newspapers until Wednesday, 04 February 2009, PSALM will accept Letters of Interest from interested investors until 12 February 2009.
As part of the preparatory requirements and to receive the Bidding Package, interested parties must execute a Confidentiality Agreement and Undertaking with the government power firm, and pay a non-refundable Participation Fee of USD2,000. The deadline for these prerequisites is on Friday, 13 February.
PSALM will hold the Pre-bid Conference for prospective bidders on 18 February 2009. The Bid Submission Deadline for the PB 117 facility is on 15 April 2009.
The ITB also stated that part of the conditions for the sale of PB 117 is for the barge-mounted bunker fired diesel generating power station to remain in its current location in Agusan del Norte for at least three years subject to the terms of the Final Transaction Documents.
PSALM first offered the PB 117 power facility through the ITB it published last 01 October to 03 October 2008. The bidding was declared a failure because of lack of interest from investors.
In a separate development, PSALM reported that two investor groups have signified interest in bidding for the 55-MW Naga Land-Based Gas Turbine Power Plant located in Cebu I Power Plant Complex, Barrio Colon, Naga, Cebu.
The two Filipino investor groups have completed PSALM’s preparatory requirements for the Naga power plant bidding.
