PSALM prepays USD219 million of National Power debt (new)

The Power Sector Assets and Liabilities Management Corporation (PSALM) prepaid USD126 million and Y10.2 billion, or a total of USD219 million, of National Power Corporation's debt on 15 and 18 August, respectively. The amount represents the loans extended by the Asian Development Bank and the Japan Bank for International Cooperation (JBIC) for the Masinloc Coal-Fired Thermal Project which was successfully.... read more

Iligan diesel plant sale attracts three investors

Three investor groups are keen on acquiring the 114-megawatt (MW) Iligan I & II Diesel Power Plant (IDPP 1&2) complex, the Power Sector Assets and Liabilities Management Corporation (PSALM) recently disclosed.

The three interested parties, which have all completed the preliminary requirements for the bidding, attended the Pre-bid Conference that PSALM organized at its main office in Makati City.... read more

AP Renewables wins Tiwi-MakBan bid

The Power Sector Assets and Liabilities Management Corporation (PSALM) today (30 July 2008) declared the AP Renewables Inc. as the highest bidder in the auction of the 289-megawatt (MW) Tiwi Geothermal Power Plant located in Tiwi, Albay and the 458.53-MW MakBan Geothermal Power Plant situated in Laguna and Batangas provinces, respectively.

AP Renewables' offer of USD446.9 million (USD446,888,008.00).... read more

PSALM sets Tiwi-MakBan auction

The Power Sector Assets and Liabilities Management Corporation (PSALM) is set to bid out the 747-megawatt (MW) Tiwi-MakBan geothermal power complex tomorrow (30 July) at the PSALM office in Makati.

Tiwi-MakBan is the first geothermal plant complex that the government privatization firm will be selling. The bidding will help boost the government's ongoing campaign to promote renewable energy sources.... read more

PSALM to rebid Amlan asset

The Power Sector Assets and Liabilities Management Corporation (PSALM) will rebid the 0.8-megawatt (MW) Amlan Hydroelectric Power Plant after the bidding it conducted for the Negros Oriental-based power facility last Wednesday (23 July 2008) was declared a failure.

Only one bidder - Sta. Clara International Corp., which bought the 1.2-MW Loboc Hydroelectric Power Plant in Bohol for USD1.42 million.... read more