By Myrna M. Velasco – August 22, 2017, 10:00 PM
from Manila Bulletin
The government, with the imprimatur of the board of the Power Sector Assets and Liabilities Management Corporation (PSALM), will be casting divestment plans on the previous site of the mothballed 850-megawatt Sucat thermal power plant.
Following the sale of the Sucat facility on ‘scrap mode’, an energy official disclosed that the ‘real plan’ of the State will be to sell the site as a real estate asset.
It was noted that this move will help drive up the privatization proceeds of the National Power Corporation (NPC) assets that could then help pare its debts and contingent liabilities.
PSALM previously apprised media that it has been preparing the site for development initiatives that could cater to various industries.
In a statement, PSALM indicated that “talks are underway for potential projects that may rise in the Sucat thermal power plant site in Muntinlupa City.”
PSALM Officer-in-Charges Lourdes S. Alzona just hinted that initial discussions delve with “transforming the site as a location for an energy-related project; a transportation hub or an economic zone.”
It is worth noting that it was only the decommissioned plant that was sold to winning bidder Riverbend Consolidated Mining Corporation; while the lot remained and still titled under the government’s ownership.
It will be the Sucat facility buyer that shall “carry out the disposal of the plant structures,” as the asset had been sold as ‘scrap’, based on the prescription of the bidding terms.
The plant site, as mandated to the winning bidder, shall be returned “to ground zero, free of clear and wastes, toxic substances, debris and structures.”
Previously, the Department of Energy (DoE) envisioned the previous Sucat plant site for a greenfield liquefied natural gas-fired power facility, but that may already be sidetracked.