State-run Power Sector Assets and Liabilities Management Corp. said Korean company Soosan ENS Co. Ltd. emerged as the lone bidder with an offer of P222.55 million for the one-year service contract of the 650-megawatt Malaya thermal power plant in Pililla, Rizal.
PSALM held the bid opening relative to the public bidding for the operation and maintenance service contract of MTPP on July 27.
The agency said in a statement the bid was still subject to the detailed evaluation and post-qualification activities.
“Should Soosan ENS Co. Ltd. pass the said activities, the bid will be presented to the PSALM board of directors for the approval of the issuance of the notice of award,” PSALM said.
PSALM approved a budget of P224.8 million for the procurement of the OMSC. Situated in Pililla, Rizal, MTPP is being managed by PSALM through an OMSC.
The plant was designated by the Department of Energy as a must-run unit in 2014. As an MRU, it is called by National Grid Corporation of the Philippines to run and provide security capacity during a shortage in electricity supply caused by power plant outages to ensure system reliability of the Luzon grid.
MTPP will continue to be operated as an MRU pending its privatization, which was moved anew to Sept. 3 from July 30.
PSALM president Irene Garcia earlier said the coronavirus pandemic had affected the movement of people and the agency was reviewing its timelines.
Three companies earlier expressed interest to participate in the third round of bidding for the Malaya power plant, including Ayala-controlled AC Energy Inc., Panasia Energy Inc. and Denki Power.
There were two rounds of public bidding for the Malaya facility last year which were both unsuccessful.
PSALM is tasked to manage the assets and liabilities of National Power Corp. as mandated by the Electric Power Industry Reform Act of 2001.