Philippines to auction two more power plants
Published September 10th, 2007
The Philippine government has placed two power plants with a combined capacity of 339 megawatts on the auction block, with the deadline for submission of bids set for December 5, a state agency said Monday.
‘In line with the government’s efforts to accelerate the (power asset) privatization program and to help boost government revenues, the Power Sector Assets and Liabilities Management Corporation (PSALM) … is offering the 192.5-megawatt Palinpinon Geothermal and 146.5-megawatt Panay Diesel power plants as one generation package,’ PSALM said in a statement.
A power supply contract has been attached to the power plants, located in central Philippines, assuring the winning bidder of a market for the plants’ output, it said.
The government is hoping to sell at least half of dozens of its power plants and the national grid before the year ends, after initial attempts to privatize these assets drew lukewarm response from investors due to various concerns.
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