Mindanao Coal IPPA appointment attracts 12 prospective bidders

17 Apr 2015

The Power Sector Assets and Liabilities Management (PSALM) Corporation has reported that a total of 12 prospective bidders are eyeing its selection and appointment of the Independent Power Producer Administrator (IPPA) for the 200 MW Mindanao Coal-Fired Thermal Power Plant (Mindanao Coal).

PSALM said the deadline for the payment of the nonrefundable participation fee and execution of a Confidentiality Agreement and Undertaking with PSALM lapsed on Monday (13 April 2015), with the following investor groups complying with the initial requirements:

- Conal Holdings Corporation
- FDC Davao Del Norte Power Corporation
- FirstGen Northern Power Corporation
- GDF Suez Energy Philippines, Inc.
- Masinloc Power Partners Co. Ltd.
- Meralco Powergen Corporation
- Nexif Pte Ltd.
- SMC Global Power Holdings Corporation
- SPC Power Corporation
- Team (Philippines) Energy Corporation
- Therma Southern Mindanao, Inc. (TSMI)
- Vivant Energy Corporation

"We are delighted with the number of prospective bidders, which is more than our first IPPA bidding for the Mindanao region - that of the Mindanao I and II (Mt. Apo 1 and 2) Geothermal Power Plants. We hope that this one will likewise be a successful undertaking," PSALM President and Chief Executive Officer Emmanuel R. Ledesma, Jr. said.

PSALM will conduct the Pre-bid Conference for the prospective bidders on 06 May 2015, in preparation for the bidding scheduled on 23 September 2015.

Located in Misamis Oriental, the Mindanao Coal plant was constructed in 2006 under a 25-year Build-Operate-Transfer (BOT) - Power Purchase Agreement scheme, which ends in 2031.

Corporate Communications Division
Tel. No. (632) 9029067