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Fort Pilar Energy beats AC Energy for Malaya plant on May 7, 2021 at 5:59 pm
Fort Pilar Energy Corporation outbid Ayala-led AC Energy for the ownership of the 650-megawatt (MW) Malaya Thermal Power Plant (MTPP) in Pililla, Rizal.
Government-run Power Sector Assets and Liabilities Management Corporation (PSALM) declared Fort Pilar Energy as the winning negotiating party, as it submitted the higher bid amounting to Php3.12 billion. On the other hand, AC Energy’s bid was worth Php2.22 billion. Both bids were above the Minimum Offer Price of Php1,845,222,000.
“After several attempts to privatize MTPP the last two years, we are very happy to have finally received financial bids substantially above our Minimum Offer Price. We are glad that this culminated in a successful privatization,” PSALM President and Chief Executive Officer Irene Besido-Garcia said in a statement.
In January 2020, Katie Dykes, commissioner of Connecticut’s Department of Energy and Environmental Protection speaking to environmental advocates attending the Connecticut League of Conservation Voters annual environmental summit leveled this broadside at the independent system operator that runs the six-state New England electricity grid and the federal authorities that govern it:
“Because of the lack of leadership on carbon at the ISO-New England, we are at the mercy of a regional capacity market that’s driving investment in more natural gas and fossil fuel power plants that we don’t want and that we don’t need,” she said. “This is forcing us to take a serious look at the costs and benefits of participating in the ISO-New England markets.”
By Jan Ellen Spiegel, CT Mirror
In January 2020, Katie Dykes, commissioner of Connecticut’s Department of Energy and Environmental Protection speaking to environmental advocates attending the Connecticut League of Conservation Voters annual environmental summit leveled this broadside at the independent system operator that runs the six-state New England electricity grid and the federal authorities that govern it:
“Because of the lack of leadership on carbon at the ISO-New England, we are at the mercy of a regional capacity market that’s driving investment in more natural gas and fossil fuel power plants that we don’t want and that we don’t need,” she said. “This is forcing us to take a serious look at the costs and benefits of participating in the ISO-New England markets.”