Several Japanese and Korean companies are joining the bidding for the 165-megawatt Casecnan Hydroelectric Power Plant, state-run Power Sector Assets and Liabilities Management Corp. said Tuesday.
PSALM said 14 bidders had shown interest in the bidding for the power plant including Fresh River Lakes Corp., Neptune Hydro Inc., Sta. Clara International Corp., GigaAce 11 Inc., Pan Pacific Renewable Power Phils. Corp., Semirara Mining & Power Corp., Global Hydro Power Corp. and Romero-owned Belgrove Power Corp.
Other interested bidders are Axia Power Holdings Philippines Corp., Panasia Energy Inc., Hansan Solar Corp., San Roque Power Corp. and the joint venture of Yuchengco-owned EEI Power Corp., Soosan ENS Co. Ltd., Soosan Industries Co. Ltd. and Peakpoint Inc.
Fourteen groups, including Japanese and Korean companies, are joining the bidding for the 165-megawatt Casecnan Hydroelectric Power Plant, state-run Power Sector Assets and Liabilities Management Corp. said Tuesday.
PSALM held its second and third pre-bid conferences for the CHEPP on Jan. 25 and 27 where the interested bidders inquired and clarified the terms and conditions of the sale.
“We envision that the sale of the Casecnan plant will be successful, efficient and judicious for PSALM and the winning bidder who will take over its management. This second pre-bid conference paves the way for a good return on investment for the winning bidder, starting with a more market-responsive price and on an “as-is, where-is” and “cash” basis sale for the Casecnan plant,” PSALM president and chief executive Dennis Edward Dela Serna said.
CHEPP is a “run-of-river” type of power plant with limited impounding area located at Sitio Pauan, Barangay Villarica, Pantabangan, Nueva Ecija. It was covered by a build-operate-transfer agreement which ended on Dec. 11, 2021.
The two conferences enlightened bidders on the bidding process and the potential concerns attendant to managing the Casecnan plant.
PSALM and the National Irrigation Administration officials discussed tax laws and regulations that could impact the successor company, the role of the winning bidder to lead the crafting of the special use agreement in protected areas with the Department of Environment and Natural Resources, water permits for power generation and irrigation, other permits enforced or to be secured by the winning bidder, observance of indigenous peoples rights when the new owner takes over the management of the plant and safety considerations prior to inspecting the plant.
PSALM set the deadline for the submission of bids on March 28. Alena Mae S. Flores