24 Mar 2008
The public bidding for the 747-megawatt (MW) Tiwi-MakBan geothermal power complex that would be bid out as one package on 04 June drew interest from 10 investor groups, disclosed the Power Sector Assets and Liabilities Management Corporation (PSALM). The parties sent their respective expressions of interest to PSALM before the 12 March deadline for submission.
One of the 10 interested investors was unable to submit its participation fee within the deadline and, thus, would not be able to participate in the bidding.
Of the nine interested parties, five are from the Philippines, two are from Europe, one is from North America, and one is from the Asia-Pacific Region. Two of the investor groups had previously participated in the first round of bidding for the Tiwi-Makban geothermal power plants scheduled in 2005. PSALM, however, had to defer that bidding to update the transaction documents and bidding procedures.
The bidding package, which includes the draft transaction documents, was issued to interested parties last 17 March. The pre-bid conference for the facilities will be held on 02 April. The conference will give the potential bidders the opportunity to clarify issues and concerns about the bid transaction documents.
The geothermal power plant complex straddles three provinces. The Tiwi plant is in Albay, while the MakBan plant occupies sites in Batangas and Laguna.
Strategic Communications and Partnership Division