MANILA, Philippines—The second tender for the sale of the 153.1-megawatt Naga coal-fired power plant complex was declared a failure due to lack of competitive bidders, state-owned Power Sector Assets and Liabilities Management (PSALM) Corp. said Thursday in a statement.
Only one bidder, SPC Power Corporation, submitted a proposal for the power generating facility, PSALM said.
With the result, PSALM said, it would need to consult its board of directors regarding its plans for the Cebu-based power plants.
The Naga Power Plant in Barangay (village) Colon, Naga City, Cebu province, is made up of the 52.5-MW Cebu 1 and 56.8-MW Cebu 2 coal-fired thermal power plants, as well as the 43.8-MW Cebu diesel power plant 1 composed of six 7.3-MW bunker-C fed power units.
PSALM failed to sell the Naga plant complex last July 24 for lack of qualified bidders. At the time, PSALM said, only one of three prospective bidders submitted the necessary requirements.