Prospective bidders remain keen on BacMan geothermal plant acquisition

08 Apr 2010

At least four prospective bidders remain keen on acquiring the 150-megawatt (MW) BacMan geothermal power plants located in Manito, Albay and Sorsogon City, Sorsogon as they attended the Pre-bid Conference conducted by the Power Sector Assets and Liabilities Management (PSALM) Corporation Tuesday, 06 April 2010.

The bidders sought to clarify provisions of the Bidding Procedures in preparation for the Bid Submission Deadline on 05 May 2010. The investor groups had previously participated or are currently participating in PSALM's bidding exercises.

PSALM noted that the interested parties have complied with the initial requirements, which include the submission of a Letter of Interest and the payment of a non-refundable participation fee of USD2,000.00. The prospective bidders also executed a confidentiality agreement with PSALM prior to the 29 March 2010 deadline.

Asset Valuation and Disposal Department 3 manager Ricardo M. Empleo, Jr., who presided over the page-by-page discussion of the Bidding Procedures, pointed out that comments raised in the Pre-bid Conference would not modify the Bidding Procedures unless PSALM issues a Supplemental Bid Bulletin informing them of any change.

The BacMan I geothermal plant consists of two 55-MW turbines, which were both commissioned in 1993. BacMan II, on the other hand, consists of two 20-MW units called the Cawayan and the Botong. The Cawayan, which is located in Barangay Basud, was commissioned in 1994, while the Botong unit, commissioned in 1998, is situated in Osiao, Sorsogon City.

The Philippine National Oil Company-Energy Development Corporation provides the steam that fuels the BacMan geothermal plants.

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