The battle for the privatization of the 246 MW Angat Hydroelectric Power Plant in Norzagaray Bulacan gets competitive as major players announced their intent to join in the public bidding that is going to be conducted by Power Sector Assets and Liabilities Management Corp. (PSALM).
Those conglomerates who expressed their intent to bid for the project were the Ayala Group (in partnership with Metro Pacific Investments Corp.), San Miguel Corp., Aboitiz Power Corp, and the Lopez Group’s First Gen Holdings Corp.
In order to have joined the bidding, parties must have first submitted a letter of intent with the payment of a $2,500 nonrefundable participation fee last Wednesday. Pre-bid conference is scheduled on February 17 with the deadline of the bid submission to be on the 28th of April. Approved bidders must also pay a $4million bid security.
In judging the winner, PSALM will adopt a two envelop bidding system with the envelop with the technical qualification being opened and judged first then followed with the envelop with the financial bid.
Category: Hydro, Clean Energy, Investing
