PSALM eyes Sucat plant privatization by 1st half 2017

THE Power Sector Assets and Liabilities Management Corp. (PSALM) has pushed back the target bidding schedule for the 850-megawatt (MW) Sucat thermal power plant in Muntinlupa City.

 Lourdes S. Alzona, PSALM officer-in-charge, told reporters on the sidelines of an energy investment forum on Tuesday that the target privatization would be in the first half of 2017.
The sale of the decommissioned Sucat plant was originally scheduled in Sept. 2016.

Asked about the cause of delay, Ms. Alzona cited “new developments,” in particular, a new requirement for an environmental clearance.

“We have to wait for the result [of the] DENR [Department of Environment and Natural Resources] clearance,” she said, citing this as the reason for the “slight adjustment in the schedule.”

She added that the bidding process would move only when the PSALM receives the issuance from the DENR. She said the bidding transaction documents are expected to be ready in December.

The plant has four separate units with an installed capacity ranging from 150 MW to 300 MW. It uses bunker fuel and was operated by the National Power Corp. (Napocor).

Read more here.

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