The Philippines’ power sector privatization agency has extended the deadline for bids in a tender auction for privatization of the 800-kW Amlan hydroelectric project. Bids now are due July 23.
The government’s Power Sector Assets and Liabilities Management Corp. (PSALM) said the deadline, originally set for June 25, was extended at the request of bidders who said they needed more time for due diligence review. (HNN 4/11/08) Due diligence was to be performed April 14-June 23.
PSALM said five investor groups have expressed interest in bidding for the hydro plant. It said final transaction documents would be issued July 16.
PSALM is attempting to raise up to US$5 billion over several years by selling power plants of debt-strapped National Power Corp. (Napocor). In the most recent privatization auction of a hydro project, Philippine power producer Aboitiz Power and Norway’s Statkraft Norfund Power Invest (SN Power) won the 75-MW Ambuklao and 100-MW Binga hydroelectric projects with a bid of US$325 million. (HNN 11/28/07)
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.
Prospective bidders were required to obtain confidentiality agreement and undertaking forms from PSALM, and complete and return them by April 30 with a fee of US$500. A pre-bid conference was scheduled May 7.
Two-envelope bids now are due by noon July 23.
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: email@example.com; Internet: www.psalm.gov.ph.