July 1, 2016
from Business Mirror
SPC Power Corp. formally took over the 32-megawatt (MW) Power Barge (PB) 104, a power asset in Davao sold by the Power Sector Assets and Liabilities Management Corp. (PSALM).
“Today’s turnover ceremony for the closing of sale of Power Barge 104 is another manifestation of the strong partnership and collaboration between the government and the private sector that rests on a solid platform to provide reliable and quality supply of power to Filipino consumers,” PSALM Officer in Charge Lourdes S. Alzona said.
The awarding of the symbolical key to SPC signaled the operational, and management responsibilities and duties for PB 104 are now transferred to the new owner.
Alfredo S. Ballesteros, SPC senior vice president for finance and administration, assured PSALM that PB 104 will be in good hands.
“PSALM and SPC have been together in certain projects of the government, working and supporting each other. The sale and now the turnover of PB 104 is another opportunity where we have collaborated as partners in the electricity industry. This is another testament to PSALM’s success in privatization and we are proud to be part of it,” he said.
On April 15 three negotiating parties submitted their offers. After careful evaluation by the PSALM Bids and Awards Committee, it was announced SPC met the reserve price and was declared as the negotiating party with the highest offer of P218,889,999.
The turnover ceremony was attended by top SPC officials, led by its President and CEO Dennis T. Villareal, to sign the Joint Certificate of Turnover and Deed of Absolute Sale.
PB 104 was commissioned in 1981 and started operation in 1985. It is located at the Holcim Compound, Ilang, Davao City. It generates electricity from thermal sources and operates as a subsidiary of National Power Corp.
After the successful turnover of PB 104, PSALM is set to put on sale the decommissioned Sucat Thermal power plant.