PSALM to bid out Power Barges 101-104 today

THE POWER Sector Assets and Liabilities Management (PSALM) Corporation will bid out the diesel-fired Power Barge (PB) Nos. 101, 102, 103 and 104 today, May 16, 2012, after finalizing all necessary governmental requirements for the bidding.

According to PSALM President and Chief Executive Officer Emmanuel R. Ledesma, Jr., PSALM will push through with the sale of the power barges, the first privatization activity for this year, in line with “PSALM’s mandate in the Electric Power Industry Reform Act and with the guidance and support of the PSALM Board.”

Ledesma disclosed that the number of prospective bidders that qualified for the bidding was trimmed from 11 to seven investor groups, all of whom were given ample time to prepare and finalize their respective offers. The qualified bidders submitted their documentary deliverables before the 18 April 2012 deadline.

The seven eligible bidders have until 12 today to submit their respective offers for the power barges, after which the opening and evaluation of bids will commence.

Ledesma explained that the participating bidders must submit an offer for each of the three packages comprising the sale of the power barges. These are Package 1, which combines PB Nos. 101 and 102; Package 2, which consists of PB 103; and Package 3, which includes PB 104. He said that a bidder can win any or all the packages.

A condition for the sale of PB Nos. 101-103, which are currently moored in the Visayas, is the transfer of these Barges to Mindanao in order to augment the power supply in the region. All transfer costs will be for the account of the winning bidder.

Commissioned in 1981, PB Nos. 101 and 102 are currently stationed at Bo. Obrero in Iloilo City. PB Nos. 103 and 104, which began operation in 1985, are moored in Botongon, Estancia, Iloilo, and at the Holcim Compound, Ilang, Davao City, respectively. Each power barge has an installed capacity of 32 megawatts.

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