PSALM‘s asset review process attracts 30 potential investors

The Power Sector Assets and Liabilities Management Corp. (PSALM) said yesterday at least 30 local and foreign investors have signified keen interest to enter into the agency’s investor preliminary asset review process (IPARP) program.

"Investors remain supportive of the privatization of the generation assets of the National Power Corp. based on their positive response to PSALM’s IPARP program," PSALM’s Asset Management and Electricity Trading Group (AMETG) vice president Froilan A. Tampinco said.

IPARP is a process that enables potential bidders to come up with a better assessment of their targeted power plants through site visits and access to plant information in the PSALM data room.

Tampinco said as of last month 30 local and foreign investors have submitted their expressions of interest (EOIs) to PSALM to avail themselves of the IPARP.

"Since introducing IPARP in March last year, we’ve received 13 and 17 EOIs from local and foreign firms, respectively. Six of the foreign investors came from Japan, and five came from the United States. Other participants included five Asian companies and two European firms," he said.

Tampinco also reported that a total of 23 plant site visits have been facilitated by PSALM through the IPARP.

"We are encouraging other prospective bidders to participate in the IPARP to enable them to more effectively assess the plants they want to acquire," Tampinco said.

The PSALM official said the process provides bidders the opportunity to make a more concrete shortlist of the assets they are eyeing.

To participate in the IPARP, interested investors are required to submit a written EOI and execute a confidentiality agreement and undertaking.