Tag Archives: bids and awards committee

PSALM selling Iligan power plant assets

BusinessWorld Online
August 8, 2013

THE POWER Sector Assets and Liabilities Management Corp. (PSALM) is seeking offers to purchase various disposable assets, worth P32 million, of the 98-megawatt (MW) Iligan diesel power plant.

In a notice published yesterday, PSALM’s Bids and Awards Committee said it will dispose unserviceable assets of the plant in Lanao del Norte — which was already turned over to Mapalad Power Corp. in the first quarter of this year.

Specifically, PSALM is seeking bids for a fuel tank and associated pipeline, as well as the stock fuel of the power plant.

The remaining fuel consists of 2.27 million liters of industrial fuel oil, 73,873 liters of industrial diesel oil, and 7,435 liters of engine lubricating oil.
BusinessWorld Online
August 8, 2013

PSALM has set a minimum bid price of P32 million for the assets, and interested parties should pay a non-refundable fee of P10,000 for the bidding documents.

The state firm has scheduled the auction for Sept. 4, with a pre-bid conference on Aug. 23.

PSALM was formed under Republic Act 9136 or the Electric Power Industry Reform Act of 2001 to assume ownership of and manage all of National Power Corp.’s assets, liabilities, contracts with independent power producers, real estate and other disposable assets. — Claire-Anne Marie C. Feliciano

Swiss challenge for Iligan plant held up

BusinessWorld Online
October 23, 2011

CAGAYAN DE ORO — The Iligan City council has deferred the Swiss challenge for the 103-megawatt Iligan diesel-fired plant complex as it awaits the Commission on Audit’s recommended updated ceiling price for the power asset.

Conal Holdings Corp., under the Alcantara Group, last year submitted an unsolicited offer of P300 million for the two-plant complex.

While the period for the Swiss challenge was originally scheduled to end on Oct. 13, the city council decided last week to hold off the exercise until the Commission on Audit (CoA) recommended a ceiling price, Councilor Moises G. Dalisay, Jr., chairman of the ad hoc committee on the power plants’ disposal, said in a telephone interview last weekend.

Norberto J. Oller, vice-president of the Lanao Power Consumers Federation, noted in a separate phone interview that previous appraisals placed the power complex’s value at P2.1 billion (CoA, in a 2007 report), P1.9 billion (National Power Corp.) and P1.8 billion (Lanao Consumers Federation).

The City of Iligan acquired the 7.9-hectare power plant complex under a compromise agreement with the Power Sector Assets and Liabilities Management Corp., following the latter’s failure to settle real estate tax liabilities for the asset.

The $110-million power plant complex was commissioned in 1993 as a joint build-operate-transfer (BOT) undertaking of the Alcantara Group and Tomen Corp. of Japan, called Northern Mindanao Power Corp. (NMPC).

Previously designated as NMPC-1 (60.9 megawatts) and NMPC-2 (42 megawatts), the plants were renamed as Iligan Diesel Power Plant 1 and 2 when ownership of the two units was turned over to the National Power Corp. on July 31, 2003 and on Feb. 9, 2006, respectively, after the BOT contract expired.

Three investor groups subsequently expressed interest to bid for the power plant complex and conducted due diligence on the units.

However, only Conal Holdings and Energy Developer Co. Ltd. of Seoul, South Korea — a company involved in renewable energy generation — were eventually deemed qualified by the city’s bids and awards committee to vie for ownership of the plant. — M. D. Baños