MANILA – The Power Sector Assets and Liabilities Management Corp. yesterday declared the bidding for Power Barge Nos. 101-104 a failure after only one of the seven qualified bidders submitted an offer for the assets.

Only ACTA Power, a joint venture between the power companies of Ayala Corp's AC Energy Holdings and PHINMA’s Trans-Asia Oil and Energy Development Corporation, submitted the required bidding documents prior to the expiration of the bid submission deadline at noon.

PSALM, in accordance with its bidding procedures, declares a failure of bidding when less than two bidders participate in the exercise.

PSALM President and chief executive officer Emmanuel Ledesma Jr., said the conduct of a second round of bidding for the power barges will be taken up with the PSALM Board of Directors for the latter’s instructions.

PSALM hopes to conduct the second round of bidding as soon as possible, subject to Board approval.

Commissioned in 1981, Power Barges Nos. 101 and 102 are stationed at Bo. Obrero in Iloilo City.

These power barges, which began operation in 1985, are moored in Botongon, Estancia, Iloilo, and at the Holcim Compound, Ilang, Davao City, respectively. Each power barge has an installed capacity of 32 megawatts.*PNA

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