In a simple ceremony held on 13 September 2021, the Power Sector Assets and Liabilities Management Corporation (PSALM), through its President and Chief Executive Officer, Atty. Irene Besido-Garcia, handed over the original transfer certificate of title of the Malaya Thermal Power Plant (MTPP) to Belgrove Power Corporation (Belgrove). The legal document was accepted by Belgrove Chairperson, Ms. Sheila B. Romero.
“This act symbolizes the transfer of the rights and obligations of PSALM over the Malaya power plant to Belgrove. This is a clear testament to PSALM’s dedication to accomplish its mandate,” Garcia said. On 25 August 2021, PSALM and Belgrove signed and executed the deed of absolute sale which signifies that all rights of PSALM to the assets have been passed on to Belgrove.Back