Today, July 16, 2018, the Naga Power Plant Complex in Cebu was physically turned over and accepted by AboitizPower subsidiary Therma Power Visayas Inc. (TPVI).
"Our team has taken possession of the power plant complex and are now assessing the facility in preparation for maintenance and rehabilitation works. We are also conducting an inventory of the assets on site,” TPVI COO Celso Caballero said.
“We would like to thank PSALM for their assistance in guiding us through this turnover process and we look forward to our partnership with the local government of Naga.”
In May, TPVI received the Certificate of Effectivity (COE) from the Power Sector Assets and Liabilities Management Corp. (PSALM) initiating the purchase of the facility.
The COE implements the Sept. 28, 2015 decision of the Supreme Court, which upheld the April 30, 2014 award of the facility to TPVI.
The Naga Power Plant Complex is composed of diesel and coal power plants with a combined capacity of 153.1 MW.
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