MANILA, Philippines - At least 12 prospective investors have expressed interest to bid for the 246-megawatt Angat hydroelectric power plant, the Power Sector Assets and Liabilities Management Corp. (PSALM) said.
The potential bidders and PSALM’s technical working group met during the pre-bid conference to discuss the sale structure of the Angat facility.
The pre-bid conference provided the participants an opportunity to clarify their respective issues and concerns on the bidding procedures for the Angat privatization.
PSALM president Jose C. Ibazeta pointed out that despite the privatization of the Angat power facility, the use of water from the Angat Dam for domestic purposes and irrigation will remain the priority over power generation as stipulated in law and in the bidding provisions for the Angat power plant.
This priority was also explained and emphasized in last week’s forum for the privatization of the Angat where PSALM provided a broader perspective of the structure and pertinent provisions of the sale of the power facility.
Representatives from the National Power Corp. (Napocor) also attended the pre-bid conference to provide more technical details on the operation of the power plant.
PSALM launched the sale of the Angat facility last Jan. 10 through the publication of an invitation to bid. The government power privatization firm has set the plant’s bidding on April 28.
The Bulacan-based hydro facility operates through the Angat Dam, which supplies the water requirements of Metro Manila, Bulacan and neighboring provinces.
In a related development, Napocor belied reports it has been depleting water supply at the Angat Dam for power generation.
Napocor spokesman Dennis Gana told reporters that they operate within the prescribed level of the National Water Resource Board (NWRB) to run their generating units.
“We can’t just release water from Angat Dam. We are working based on the allocation given by the NWRB, “ he said.
The Angat Dam is Metro Manila main drinking water source. It provides more than 90 percent of the capital region’s requirements. Aside from power plant operations, it is also used for irrigation.
It was reported on Thursday that Angat’s water level stood at 196 meters, alarmingly below its standard elevation of between 204 and 206 meters.
He said with the current water level of Angat, Napocor could generate 65 MW of power.
The facility’s water reserves continue to go down at a rate of about one cubic meter per hour because of the prolonged dry spell caused by the El Niño phenomenon.