PSALM defers Malaya Plant bidding

MANILA, Philippines -  State-run Power Sector Assets and Liabilities Management Corp. (PSALM) has deferred anew the bidding for the  650-megawatt (MW) Malaya Thermal Power Plant (TPP) in Rizal.

PSALM officer-in-charge Lourdes Alzona said the bidding for the asset is “deferred until further notice.”

"Bidding has been moved to have more time for the evaluation of options for the Board, in consideration of the DOE policy to ensure sufficiency of the power supply in the Luzon grid," Alzona said.

The state-run firm is waiting for the instruction of the Department of Energy (DOE) regarding the privatization of the power plant.

Originally set on March 8, the bidding date has been reset to March 30 to take into consideration DOE’s proposal to convert the facility into a liquefied natural gas (LNG) plant.

Prior the DOE’s proposal, the Malaya plant was supposed to be sold on an “as is, where is” basis.

The final transaction document will take into consideration the requirement of DOE for the Malaya’s conversion to a baseload LNG plant, Alzona had said.

The conversion of the asset will ensure reliable power supply in the future and allow the country a cleaner, more efficient and reliable power plant, Energy Secretary Alfonso Cusi said earlier.