The Power Sector Assets and Liabilities Management Corp. (PSALM) has shortlisted two out of four unsolicited proposals for the rehabilitation of the Agus-Pulangi hydropower complex, according to a report by BusinessWorld .
The state-run firm said that four power generation companies submitted initial proposals for the project, but only two advanced to the evaluation stage after an initial review. The Agus-Pulangi complex is a key source of electricity for Mindanao, and its rehabilitation is seen as crucial for improving power reliability in the region.
PSALM did not disclose the names of the shortlisted bidders or provide a timeline for the next steps. The rehabilitation project is expected to involve repair and upgrade of existing hydropower plants to restore their generation capacity.