State-run Power Sector Assets and Liabilities Management Corp. will next auction 150-megawatt Casecnan hydro plant following the successful sale of the 650-megawatt Malaya Thermal Power Plant and its land.
“We are studying Casecnan and we are also working on a lot of real property assets for priva(tization) this year,” PSALM president Irene Garcia said.
PSALM worked with the Asian Development Bank for the conduct of a study on the possible privatization options and structures of the Casecnan hydro power plant.
Garcia said the experts recommended a “straight out sale, as is where is” of the Casecnan power project.
She said PSALM was ironing out some issues with the National Irrigation Administration, which owns 40 percent of the power plant. PSALM controls 60 percent.
Garcia said the privatization of Casecnan might spill over to early 2022. The 150-MW Casecnan project was built following the signing of a build-operate-transfer contract between the NIA and California Energy Casecnan Water and Energy Company Inc. in 1994.