State-run Power Sector Assets and Liabilities Management Corp. moved the bid submission deadline for the privatization of the 165-megawatt Casecnan Hydroelectric Power Plant to May 16 from April 18 to give time for bidders’ comments and National Irrigation Administration’s inputs.
PSALM issued a supplemental bid bulletin on March 10 informing the bidders of the new bid schedule. It reset the post-qualification of the highest ranking bidder on May 17 to 23 from April 19 to 25.
Issuance of the notice of award to the winning bidder is scheduled on May 26 from May 18.
PSALM president Dennis Dela Serna said they were still waiting for NIA inputs specifically on water protocol and draft operations and maintenance agreement for the non-power component.
“PSALM needs to time to respond to bidders comments and issue final transaction documents,” he said.
Around 14 bidders previously showed interest in bidding for the Casecnan plant.
These included 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 Belgrove Power Corp.
Other interested bidders are Axia Power Holdings Philippines Corp., Panasia Energy, Inc., Hansan Solar Corp., San Roque Power Corp., the joint venture of EEI Power Corp., Soosan ENS CO. LTD., Soosan Industries Co. Ltd. and Peakpoint, Inc.
“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 2nd 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,” Dela Serna said.
The CHEPP is a “run-of-river” type of power plant with limited impounding area, located at Sitio Pauan, Brgy. Villarica, Pantabangan, Nueva Ecija.
The CHEPP was covered by a build-operate-transfer agreement which ended on December 11, 2021.