PSALM holds pre-bid conferences for ULGPP Bulk and Mindanao Coal IPPA selection

18 May 2015

The Power Sector Assets and Liabilities Management (PSALM) Corporation successfully held the pre-bid conferences for its selection and appointment of the Independent Power Producer Administrators (IPPAs) for the Bulk Energy of the Unified Leyte Geothermal Power Plants (ULGPP Bulk) and the 200 MW Mindanao Coal-Fired Thermal Power Plant (Mindanao Coal) on Wednesday, 06 May 2015.

PSALM said all its prospective bidders attended both pre-bidding activities, which consist of four (4) prospective bidders for the ULGPP Bulk, and the 12 for the Mindanao Coal.

ULGPP Bulk

"Despite the setback due to Super Typhoon Yolanda almost two years ago, you have shown the importance and high prospects of this particular bid. You may seem small in number, but you are among those who been seriously and actively pursuing our privatization program, with some of you already prevailing as winners of government's power assets," PSALM Officer-in-Charge Lourdes S. Alzona said in her welcome message at the ULGPP Bulk pre-bid conference.

"Truly, PSALM's gains in its privatization program are all because of the private sector's partnership, and for that PSALM will always be thankful to all of you," Ms. Alzona added.

The investor groups eyeing the ULGPP Bulk IPPA are SPC Power Corporation; Therma Central Visayas, Inc.; Trans-Asia Oil and Energy Development Corporation; and Unified Leyte Geothermal Energy, Inc.

The bidding for the ULGPP Bulk IPPA 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.

Mindanao Coal

Later in the day, PSALM met with the 12 prospective bidders for the Mindanao Coal, namely; 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); and Vivant Energy Corporation.

"It's always a pleasure for us to see old-timers and newcomers alike joining in our bidding activities," Ms. Alzona said. "Most especially true for Mindanao, there is much need for private sector infusion to ensure stable and reliable power supply in the region."

"As the agency mandated under the law to privatize government's power and related disposable assets, we hope that you will find your participation in this bidding activity a delightful experience, as we assure you that our processes are professional, fair and transparent," she added.

PSALM has scheduled the bidding for the Mindanao Coal IPPA appointment on 23 September 2015.

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

Corporate Communications Division
Tel. No. (632) 9029067