PSALM weighs options on ULGPP Bulk IPPA auction

04 Sep 2015

The Power Sector Assets and Liabilities Management (PSALM) Corporation is looking at probable sale options for its selection and appointment of the Independent Power Producer Administrator (IPPA) for the Bulk Energy of the Unified Leyte Geothermal Power Plants (ULGPP Bulk Energy).

At the bid opening activity held at its Makati City office on Wednesday (02 September 2015), PSALM declared a failure of bidding for the ULGPP Bulk Energy after only one (1) bidder - Unified Leyte Geothermal Energy, Inc. (ULGEI) - submitted a bid within the 12:00 noon Bid Submission Deadline.

ULGEI expressed its willingness to negotiate directly with PSALM for the ULGPP Bulk Energy.

PSALM President and Chief Executive Officer Lourdes S. Alzona said PSALM may pursue direct negotiations with ULGEI or conduct another round of bidding for the ULGPP Bulk Energy.

Ms. Alzona, who also sits as Chairperson of the PSALM Privatization, Bids and Awards Committee (PBAC), said the next step for the PBAC is to report the results of the bidding to the PSALM Board, and seek its direction regarding possible privatization options.

While two (2) bidders, ULGEI and Trans-Asia Oil and Energy Development Corporation, had complied with the Documentary Deliverables and qualified for the bidding, only ULGEI participated in the bidding activity.

PSALM earlier reported that there are four (4) prospective bidders eyeing the ULGPP Bulk Energy, namely; SPC Power Corporation; Therma Central Visayas, Inc.; Trans-Asia; and ULGEI.

In another development, Ms. Alzona reported that bidding for the 200 MW Mindanao Coal-Fired Thermal Power Plant (Mindanao Coal) IPPA will be on 25 November 2015.

"In consideration of the Department of Energy's directive to defer the Mindanao Coal IPPA selection and appointment, we have informed our bidders that the Bid Submission Deadline had been moved to 12:00 noon of 25 November 2015," Ms. Alzona said.

Corporate Communications Division
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