Connect with us

Hi, what are you looking for?


Casecnan hydro pre-bid meet draws 13 potential buyers


THE Power Sector Assets and Liabilities Management Corp. (PSALM) said 13 potential bidders attended the pre-bid conference for the auction of the Casecnan hydroelectric power plant in Nueva Ecija.

Lorenzo Deona, corporate staff analyst A at PSALM, told BusinessWorld by phone that 13 potential bidders attended the conference, but did not identify them nor provide further details.

In a statement on Wednesday, PSALM said the conference was called to gauge the acceptability of the terms of sale for Casecnan, a 165-megawatt hydropower plant.

PSALM said the asset is being privatized on an “as is, where is” basis. The deadline for the submission of bids is Feb. 24.

In its invitation to bid, PSALM required interested parties to submit a letter of interest to PSALM’s privatization bids and awards committee not later than Nov. 18. It noted that only those who submit letters would be allowed to participate in the privatization exercise.

PSALM said that bidders are also required to pay a non-refundable participation fee of P160,000.

The Casecnan hydro plant is a combined irrigation and power generation project. The water from its reservoir flows into the irrigation channels of the National Irrigation Administration (NIA).

The NIA will continue to take irrigation water from Cancan even after it is privatized.

Casecnan was turned over to the government last year after the build-operate-transfer contract with the previous operator, Casecnan Water and Energy Co., Inc. expired on Dec. 11, 2021. — Ashley Erika O. Jose

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Linesmen fix electric posts in Tondo, Manila. — PHILIPPINE STAR/ RUSSELL PALMA PRESIDENT Ferdinand R. Marcos, Jr. is hoping the Court of Appeals (CA)...


Finance Secretary Benjamin E. Diokno answers questions from the media during a press briefing at the New Executive Building, Malacañan Palace, July 6. —...


SUBSIDIES extended to government-owned and -controlled corporations (GOCCs) surged to P39.981 billion in October, the Bureau of the Treasury (BTr) said. Budgetary support to...


Manila rose six spots to 55th place out of 75 ranked centers in the sixth edition of the Smart Centers Index (SCI) by Long...


By Arjay L. Balinbin, Senior Reporter METRO Pacific Tollways Corp. (MPTC) said its unit NLEX Corp. expects to award the Candaba Third Viaduct project,...


1 of 3 ARMANI’s diffusion line, Armani Exchange, is trading in its old store look for a new one. During a short introduction to...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.