The Philippines’ Power Sector Assets and Liabilities Management Corp. (PSALM) invites expressions of interest in privatization of the 246-MW Angat hydroelectric project in Bulacan Province. Letters of interest are due January 27, 2010, followed by bids April 28.
The Philippines is selling its generation assets as part of a power privatization plan aimed at raising about US$5 billion to cut its debts and attract badly needed investment to expand and upgrade aging plants. PSALM named ICS Renewables Inc. the high bidder in 2008 for privatization of the 800-kW Amlan hydroelectric project. (HydroWorld 12/11/08)
The Angat project utilizes water from Angat Dam, 58 kilometers northeast of Manila. Completed in 1968, the project has four 50-MW main generating units, plus five auxiliary units, three of 6 MW each, one of 10 MW, and one of 18 MW.
PSALM invites letters of interest until 5 p.m. Manila time, January 27, to the address below, providing contact information for the prospective bidder and its representative. Prior to receiving a bidding package, companies must submit, by 5 p.m. January 29, a confidentiality agreement and an undertaking notice on forms provided by PSALM, accompanied by US$2,500 in cash, manager’s check, or cashier’s check
Bidding packages are to be issued February 5-12. Due diligence is to be performed until one week before the bidding deadline. A pre-bid conference is scheduled for 2 p.m. February 17 at PSALM offices. Bids are due April 28.
For information, see solicitation documents on the PSALM Internet site, www.psalm.gov.ph/documents/itbs/NoticesItem2010001.html, or contact Chairman; Privatization, Bids and Awards Committee; PSALM Corp.; 7th Floor; Bankmer Building; 6756 Ayala Ave.; Makati City; Philippines; Attorney Conrad Tolentino, Fax: (63) 2-8926029; E-mail: firstname.lastname@example.org; Internet: www.psalm.gov.ph.
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