The 360MW Magat hydroelectric power plant in the Philippines has attracted the attention of 13 potential investors, as it is set to be the latest facility to be auctioned off by the Power Sector Assets and Liability Management Corporation (PSALM).

PSALM plans to attach a supply contract to the sale of the plant, which would gurantee a ready market for 10-15% of its output, and consequently assure the buyer a market for around 36-54MW through a supply contract either with an independent distribution utility or state-owned National Power Corporation.

Last week First Generation Hydropower Corp (FirstGen) was named the winning bidder for the 112MW Pantabangan-Masiway hydro complex, in a US$129M deal.

Magat is located in North Eastern Luzon Ramon, Isabela, approximately 350km northeast of Metro Manila.

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