ABOITIZPOWER subsidiary Therma Power Visayas, Inc. received the certificate of effectivity (COE) from the Power Sector Assets and Liabilities Management Corp. (PSALM) to initiate its purchase of the Naga Power Plant Complex.
The COE implements the Sept. 28, 2015 decision of the Supreme Court, which upheld the April 30, 2014 award of the facility to TPVI.
PSALM issued a notice of award to TPVI in 2014 after posting the highest bid of P1.088 billion. (PR)