Three Companies Interested in Bakun Hydroelectric Plant Privatization
Three firms have shown interest in privatizing the 74.8-MW Bakun Hydroelectric Power Plant. This privatization is part of PSALM's strategy to reduce its liabilities and improve financial health.
Theia Market Signal Identification - AI Assisted
Power Sector Assets and Liabilities Management Corp. (PSALM) is advancing the privatization of the Bakun Hydroelectric Power Plant, with three companies—Emerging Power, Inc., Aboitiz Renewables, Inc., and FDC Utilities, Inc.—submitting letters of interest.
A pre-bid conference was held on May 4, and bid submissions are due by September 16. The plant, located in Alilem, Ilocos Sur, has been operated by Luzon Hydro Corp. since its commercial operations began in 2000.
PSALM aims to use proceeds from this privatization to reduce its remaining debt, which stands at P260.6 billion after a reduction of P13.4 billion last year. The ongoing privatization process could impact the energy market dynamics in the region.
Comments