7 investor groups remain in Mt. Apo IPPA auction

23 Sep 2014

The Power Sector Assets and Liabilities Management (PSALM) Corporation recently reported that the qualified bidders for its selection and appointment of the Independent Power Producer Administrator (IPPA) for the output of the Mindanao I and II (Mt. Apo 1 and 2) Geothermal Power Plants has been narrowed down to seven (7) investor groups.

"Based on the evaluation conducted by PSALM of the Documentary Deliverables that it received from the prospective bidders, and as approved by the Privatization, Bids and Awards Committee, only seven (7) investor groups have qualified to participate in the Mt. Apo 1 and 2 IPPA auction scheduled on 24 September 2014," PSALM President and Chief Executive Officer Emmanuel R. Ledesma, Jr. reported.

"The groups that have qualified for the bidding are 1) EDC Mindanao Geothermal Inc.; (2) FDC Misamis Power Corporation; (3) GDF Suez Energy Philippines, Inc.; (4) SMC Global Power Holdings Corporation; (5) Therma Southern Mindanao, Inc.; (6) Trans-Asia Oil and Energy Development Corporation; and (7) Vivant Geo Power Corporation," Mr. Ledesma specified.

Mr. Ledesma added that the prequalified bidders have been issued with the Final IPPA Administration Agreement for the Mt. Apo 1 and 2.

Mr. Ledesma reiterated that the deadline for the submission of bids is at 12:00 noon on 24 September 2014, with the opening and evaluation of bids ensuing thereafter.

The bidding exercise is PSALM's first IPPA auction in the Mindanao region. The IPPA will manage output of Mt. Apo 1 and 2 plants.

The Mt. Apo 1 and Mt. Apo 2 geothermal power plants have a rated capacity of 54.24 MW each, and are located in Kidapawan City, North Cotabato. Owned and operated by the Energy Development Corporation, the power plants were commissioned on 15 February 1997 (Mt. Apo 1) and 17 June 1999 (Mt. Apo 2) under a build, operate, and own contract scheme. The cooperation period for both plants is 25 years, and the same will expire on 15 February 2022 and 17 June 2024 for Mt. Apo 1 and 2, respectively.

Strategic Communications and Partnership Division
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