Four eye Unified Leyte IPPA for Bulk Energy

20 Apr 2015

A total of four (4) investor groups have signified interest in the selection and appointment of the Independent Power Producer Administrator (IPPA) for the Bulk Energy of the Unified Leyte Geothermal Power Plants (ULGPP), the Power Sector Assets and Liabilities Management (PSALM) Corporation has reported.

"With the lapse of the deadline for the payment of the nonrefundable participation fee and execution of a Confidentiality Agreement and Undertaking with PSALM on 30 March 2015, the four (4) prospective bidders for the ULGPP IPPA Bulk are SPC Power Corporation; Therma Central Visayas, Inc.; Trans-Asia Oil and Energy Development Corporation; and Unified Leyte Geothermal Energy, Inc. (ULGEI)," PSALM President and Chief Executive Officer Emmanuel R. Ledesma, Jr. specified.

"These investor groups have previously participated in PSALM's previous bidding exercises, and some of them have actually won, so we are quite happy with the turnout of prospective bidders," Mr. Ledesma noted.

Mr. Ledesma said six (6) investor groups had originally submitted Letters of Interest before the lapse of the 24 March 2015 deadline, which consists of the four (4) abovementioned parties together with Coal Asia Holdings, Inc. and Masinloc Power Partners Co., Ltd. The two (2) interested parties, however, did not pursue the next stage of the bidding process which is the submission of Confidentiality Agreement and payment of participation fee.

PSALM will next hold the Pre-bid Conference for prospective bidders on 06 May 2015.

The bidding and bid evaluation for the ULGPP IPPA Bulk is on 12 August 2015.

The ULGPP is composed of the 125-MW Upper Mahiao, 232.5-MW Malitbog, and 180-MW Mahanagdong power plants, and the 51-MW optimization plants. The ULGPP is covered by Power Purchase Agreements between the National Power Corporation and the Energy Development Corporation.

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