normal_post - PSALM to auction Palinpinon, Panay Diesel on Dec 5 - Philippine Business News Author Topic: PSALM to auction Palinpinon, Panay Diesel on Dec 5  (Read 676 times)

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PSALM to auction Palinpinon, Panay Diesel on Dec 5
« on: September 15, 2007, 07:41:52 PM »
The Power Sector Assets and Liabilities Management Corp. has scheduled the auction for the Palinpinon Geothermal and Panay Diesel Power Plants on December 5.

In a statement posted on its website www.psalm.gov.ph, PSALM said the pre-bid conference for the assets has been set on September 17 while the deadline for submission of bids is on December 5. Investors have until September 17 to submit their Letters of Interest to PSALM.

"In line with the government's efforts to accelerate the privatization program and to help boost government revenues, PSALM has placed the Palinpinon Geothermal and Panay Diesel Power Plants on the auction block," it said.

PSALM is offering the 192.5-MW Palinpinon Geothermal and 146.5-MW Panay Diesel Power Plants as one Generation Package, which will include a power supply allocation. The power plants were officially offered to prospective bidders last Friday through a published Invitation to Bid.

The Palinpinon and Panay Power Plants are located in the Visayas region, with the Palinpinon facility strategically located between the islands of Panay and Cebu. Palinpinon supplies 60 MW to Panay to supplement the power demand deficiency in the island.

Commissioned in 1983, the Palinpinon Geothermal Power Plant consists of two power stations, the Palinpinon I and II. The plant uses geothermal steam supplied by the PNOC-Energy Development Corp.

Connected to a submarine cable that links the Negros and Panay islands, the Palinpinon power plant currently supplies 18 percent to 20 percent of the electricity demand in the Cebu- Negros- Panay- Bohol- Leyte- Samar Grid.

The Panay Diesel Power Plant consists of the 36.5-MW Panay 1 Diesel Power Plant and the 110-MW Panay 3 Diesel Power Plant. The Panay 1 and 3 Diesel plants are the only land-based facilities of the National Power Corp. in the island. They are peaking plants that provide ancillary services such as backup power, load following, system frequency, and voltage regulation. - GMANews.TV

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