Lopez-led First Gen Corporation confirmed that it remains very keen on buying the ‘banked gas’ that can still be extracted from the Malampaya field. According to Jerome Cainglet, vice president of First Gen, “we have expressed our interest to purchase the banked gas for use of our gas-fired...
Fort Pilar Energy Inc., which is the winning buyer of the 650-megawatt Malaya thermal power facility, is a new company that currently has investment of P5.0 billion for 100-megawatt hour (MWh) battery energy storage system (BESS) facility in Zamboanga Peninsula, according to asset-seller Power...
Filipino firm Fort Pilar Energy Inc. emerged as the winning buyer of the 650-megawatt Malaya thermal power facility with P3.123 billion price offer – the divestment process of which was through a negotiated deal consummated on Friday (May 7). State run Power Sector Assets and Liabilities...
The prospective bidders in the 650-megawatt Malaya thermal power plant had been trimmed to two companies, from originally 4 to 5 companies, but state-run Power Sector Assets and Liabilities Management Corporation (PSALM) said it is still keen on divesting the facility via a negotiated deal by May 7...
The Philippine government is currently discussing with the Asian Development Bank (ADB) the viability of a plan to ‘buy out’ the older fleets of coal-fired power facilities in Mindanao grid. Finance Secretary Carlos G....
Given the re-enforced enhanced community quarantine (ECQ) measure in the NCR plus bubble, state-run Power Sector Assets and Liabilities Management Corporation (PSALM) has moved by two weeks or until April 23 this year the submission of tenders for the privatization of the 650-megawatt Malaya...
The Energy Regulatory Commission (ERC) has barred state-run Power Sector Assets and Liabilities Management Corporation (PSALM) from passing on new universal charges (UC) for stranded debts (SD) and stranded contract costs (SCC) even with the latter’s contention that the Malampaya fund or...
As its loan commitments are generally backed by the national government, Moody’s Investors Service indicated that such sovereign support could spare state-run Power Sector Assets and Liabilities Management Corporation (PSALM) from default on its financial commitments. That as the ratings agency...
A Chinese firm has already dropped out of the Malaya thermal power facility negotiated sale, but four others are still in the running, giving hopes to state-run Power Sector Assets and Liabilities Management Corporation (PSALM) that its long-wished for privatization of the 650-megawatt facility...
State-run Power Sector Assets and Liabilities Management Corp. (PSALM) has rejected the new condition offered by South Premiere Power Corp. (SPPC) in paying ahead its obligations for administering a power plant in Batangas. In a statement released by the Department of Finance (DOF), it said the new...
The Power Sector Assets and Liabilities Management Corp. (PSALM) has reduced its financial obligations last year with plans to further improve its finances this year, the Department of Finance (DOF) said. In a presentation to Finance Secretary Carlos G. Dominguez III, Irene Besido Garcia,...
The Power Sector Assets and Liabilities Management Corporation ( PSALM ) has scaled down the reserve price for the 650-megawatt Malaya thermal power facility to P1.845 billion from P2.007 billion for the third round of negotiated sale. This followed after the company failed on its second...
