The Power Sector Assets and Liabilities Management Corporation (PSALM), the firm tasked with selling the assets of the National Power Corporation, is planning to privatize up to six power plants next year.

Documents showed that the 246 megawatt (MW) Angat power plant in February 2010 will be the first privatization effort by PSALM next year.

While PSALM did not indicate the exact timetable for the privatization of the other power plants, it listed these as the 150-MW Bacon Manito; 235 MW Bauang; 310 MW Navotas; 114 MW Iligan I and II; and the 850 MW decommissioned Sucat.

From 2011 to 2013, PSALM will be selling seven more power plants including the 982.1 MW Agus 1-7 nad Pulangi; 650 MW Malaya; Power Barges 101, 102,103, 104 with 32 MW each and 149 MW Cebu Coal I and II and Cebu Diesel I.

PSALM has already concluded its power plant sale process for 2009 with the successful negotiated bid of Naga Land Base Gas Turbine late last week.

It is also expected to conduct the second wave of bidding for the independent power producer administrator (IPPA) in the contracted capacities of San Roque, Bakun and Benguet hydro electric plants.

The privatization level for Napocor's assets in Luzon and Visayas is currently at 81 percent with the recent sale of Calaca coal-fired power plant and the Palinpinon-Tongonan geothermal plants.

This brings the National Government's privatization revenues from the sale of Napocor power plants to $2.99 billion.

In addition, three turned-over Napocor-IPP plants, previously under a build-operate-transfer scheme, were also privatized. These are: 620-MW Limay combined cycle power plant in Luzon and Power Barges 117 and 118 in Mindanao.

PSALM has also successfully auctioned off the management of contracted capacities of the Sual and Pagbilao coal-fired power plants. This is equivalent to 34.3 percent of the Napocor contracted capacities in Luzon and Visayas worth $1.77 billion.