The 146.5-MW Panay Diesel plant and the 192.5-MW Palinpinon Geothermal plant would be bidded out in August and July, respectively, the Power Sector Assets and Liabilities Management Corp. has announced.

PSALM’s sale schedule indicates that the Panay Diesel in Dingle, Iloilo and Palinpinon in Valencia, Oriental Negros  will now be sold separately.

The sale of the two power plants is part of the government’s efforts to privatize at least 70 percent of its total generating assets.

Previously, both plants were offered as one package, but under the new schedule, Panay Diesel will be bidded out with 22-MW Bohol power plant, while Palinpinon will be sold independently.

But PSALM said in a statement the final combination will depend on the decision of the Joint Congressional Power Commission, the overseer of the government's power privatization program.

The bidding for the Palinpinon-Panay generation package will pushthrough if the JCPC approves the proposed amendments to the geothermal resources supply contract attached to the Palinpinon plant, it said, adding that five prospective bidders are eyeing the Palinpinon-Panay package.

But if the JCPC decides otherwise and retains the existing GSRC, PSALM will follow the 2008 sale schedule for the Panay and Palinpinon facilities.

A new terms of reference will then be drafted for both the Panay-Bohol package and the Palinpinon plant, PSALM said.

The bidding for the Palinpinon-Panay facilities was originally set Dec. 5 last year but was later moved to Dec. 19. PSALM again deferred the bidding and set it for the first quarter this year, until it announced Wednesday that it will bid out the two power plants separately.

Palinpinon has two power stations, the Palinpinon I and II, being commissioned by the PNOC-Energy Development Corp. while the Panay Diesel Power Plant, consisting of the 36.5-megawatt Panay 1 and and 110-megawatt Panay 3 plants, are facilities of the National Power Corp.

While awaiting the JCPC decision, PSALM is preparing the preliminary asset review for the hydro plant in Amlan, Negros Oriental, along with the six diesel-fired power plants for sale this year.*NLG

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