Philippines: PSALM May Sell Off Unified Leyte Geothermal Power Plant Contract

PSALM defers privatization for Unified Leyte geothermal power plant contract (Manila Bulletin)

The Philippines Power Sector Assets Liabilities Management Corp. (PSALM) president Lourdes S. Alzona has indicated that they are weighing their options on the IPPA engagement for bulk energy of the Unified Leyte geothermal power plant.

The company said it is “looking at probable sale options for its selection and appointment of the IPPA for the bulk energy” of the Leyte geothermal facility.

PSALM has reiterated the willingness of Unified Leyte Geothermal Energy Inc. (ULGEI) of the Lopez group “to negotiate directly with PSALM” for the bulk energy of the asset’s supply contract.

“PSALM may pursue direct negotiations with ULGEI or conduct another round of bidding for the ULGPP bulk energy,” Alzona said.

She further indicated that “the next step for the PBAC (privatization, bids and awards committee) is to report the results of the bidding to the PSALM Board, and seek its direction regarding possible privatization options.”

The state-run firm slated an auction on the bulk energy IPPA last September 2 (Wednesday), but this ended up in ‘failed bidding’ because only one party had submitted a tender.

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