The Philippines’ power sector privatization agency announced it will reissue a solicitation for privatization of the 800-kW Amlan hydroelectric project.
The government’s Power Sector Assets and Liabilities Management Corp. (PSALM) declared the initial privatization auction a failure after receiving only one bid by the July 23 deadline. (HNN 6/25/08)
PSALM said only Santa Clara International Corp. was prepared to bid for Amlan. Santa Clara was winning bidder for the 1.2-MW Loboc hydro project in 2004. (HNN 10/7/05) The agency said two other bidders expressed interest and asked for additional time to conduct due diligence studies of the plant, but ultimately failed to bid.
The PSALM board decided to immediately rebid the asset.
Amlan is located in Amlan, Negros Oriental Province. The first power plant to be built in the province, it consists of two 400-kW horizontal turbine-generators intended to operate as a baseload plant.
PSALM is attempting to raise up to US$5 billion over several years by selling power plants of debt-strapped National Power Corp. (Napocor).
For information, contact Froilan A. Tampinco, Vice President, Asset Valuation and Disposal, Power Sector Assets and Liabilities Management Corp., 7th Floor, Bankmer Building, 6756 Ayala Avenue, Makati City, Philippines; (63) 2-8938202, extension 202; Fax: (63) 2-8926029; E-mail: firstname.lastname@example.org; Internet: www.psalm.gov.ph.