Vivant to bid for 4 power barges
MANILA - Listed firm Vivant Corp. is set to bid for four power barges being auctioned off by the Power Sector Assets and Liabilities Management Corp. (PSALM).
Vivant said each power barge has an installed capacity of 32 MW and were all commissioned in the 1980s.
The asset sale is divided into two packages. Package one consists of Power Barges (PB) 101, 102 and 103, while PB 104 is being auctioned separately.
PSALM introduced changes in the bid package after two failed biddings. To address some concerns raised by interested parties, new terms were introduced: PB 101-103 located in Iloilo would no longer be required to be transferred to Mindanao.
PB 104, which is presently moored in Davao City, is still required to be operated in Mindanao for at least five years.
Vivant will then proceed with the due diligence to assess the technical and financial viability of the assets.
Deadline for submission of bids is on October 9. Opening and evaluation of bids will follow.