4 Filipino investor groups have expressed interest in the 3rd round of bidding for the sale of the 153.1-megawatt Naga Power Plant in Cebu, according to the Power Sector Assets and Liabilities Management Corp. (PSALM). PSALM, the government corporation tasked to privatize state-owned power assets, is attempting to s
4 Filipino investor groups have expressed interest in the 3rd round of bidding for the sale of the 153.1-megawatt Naga Power Plant in Cebu, according to the Power Sector Assets and Liabilities Management Corp. (PSALM).
PSALM, the government corporation tasked to privatize state-owned power assets, is attempting to sell for the 3rd time the power plant after 2 failed biddings.
PSALM president and chief executive officer Emmanuel R. Ledesma Jr.
“The interested parties for this bid are all Filipino companies with various interests in the local energy industry, and all four groups have completed the initial requirements,” said PSALM President and CEO Emmanuel R. Ledesma Jr.
Located in Colon, Naga City, Cebu, the Naga Power Plant consists of 2 thermal power plants and one diesel-fired power plant that use a combination of coal, bunker oil, and diesel as fuel.
These plants are the 52.5-MW Cebu 1 and 56.8-MW Cebu two coal-fired thermal power plants, and the 43.8-MW Cebu Diesel Power Plant 1 composed of six 7.3-MW bunker oil power units.