State-run Power Sector Assets and Liabilities Management Corp. declared a failure the third round of public auction for the 650-megawatt Malaya Thermal Power Plant and its underlying property in Pillilla, Rizal after none of the pre-qualified bidders submitted a bid.
“The PSALM board already rationalized and lowered the minimum bid price of Malaya in the hope that the bidders would be encouraged to submit their bids. It is regrettable that despite the reduced minimum price, still no bidder submitted a bid.” PSALM president and chief executive officer Irene Besido-Garcia said in a statement.
PSALM set the deadline for submission of bids at 12 noon Wednesday. The minimum bid price for the MTPP for THE third round of public bidding was placed at P2,188,400,000 which was substantially lower than the minimum bid price during the second round of public bidding on Nov. 22, 2019 at P4,481,796,017.
The two pre-qualified bidders were Panasia Energy Inc. and AC Energy Philippines Inc. which both failed to submit a final bid.