Philippines auction of 2 power plants deferred
Published December 6th, 2007
For lack of an attached steam sale agreement, a public auction of a power plant package comprising the 192.5-megawatt Palinpinon geothermal facility and the 146.5-megawatt Panay diesel-fired plant has been postponed for at least two weeks.
The package was scheduled for bidding Wednesday but the privatization agency Power Sector Assets and Liabilities Management Corp. (PSALM) decided to reset the bid submission deadline to Dec. 19, as it still had to revise the transaction documents for the asset package.
Before the Dec. 5 schedule, an issue on absence of a steam sale agreement had already been raised, as the Palinpinon plant could not be sold without it.
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