This is one of the steps in fixing the issue where the red light on the PS3 flashes. There are several things that you can do to troubleshoot this issue. This image displays one of the potential solutions in which you can remove the shell of the PS3 by removing the 9 screws on the bottom. The location of them is detailed in the image with red circles around each screw.
Check out the tutorial:
PS3 Blinking Red Light