Ayala Group, Yuchengcos, Consunji eye 165-MW Casecnan hydro plant in Nueva Ecija

EEI Power, Semirara Mining & Power Corp. and GigaAce 11 were among the 14 firms that had signified their interest to acquire the 165 megawatt Casecnan hydroelectric power plant, the Power Sector Assets and Liabilities Management Corporation (PSALM) said.

GigaAce 11 is a subsidiary of ACEN Corp., the listed energy platform of the Ayala Group.

The 11 other interested bidders include businessman-lawmaker Mikee Romero’s Belgrove Power Corp., Fresh River Lakes Corp., Neptune Hydro, Inc., Sta. Clara International Corp., Pan Pacific Renewable Power Phils. Corp., Global Hydro Power Corp., , Axia Power Holdings Philippines Corp., Panasia Energy, Inc., Hansan Solar Corporation, San Roque Power Corporation, Soosan ENS CO. LTD. and Soosan INDUSTRIES CO. LTD., and Peakpoint, Inc.

PSALM held its second and third pre-bid conferences on Jan. 25 and 27 for the sale of CHEPP to discuss the terms and conditions of the sale.

“We envision that the sale of the Casecnan plant will be successful, efficient and judicious for PSALM and the winning bidder who will take over its management.

This 2nd pre-bid conference paves the way for a good return on investment for the winning bidder, starting with a more market-responsive price and on an “as-is, where-is” and “cash” basis sale for the Casecnan plant,” said Dennis Edward A. Dela Serna, PSALM president and CEO.

The deadline for the submission of bids is on March 28.

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