Corporate News

PSALM short-lists seven groups for Mt. Apo IPPA auction

Posted on September 24, 2014

THE POWER Sector Assets and Liabilities Management Corp. (PSALM) has named seven investor groups that have qualified to participate in the auction for the Mt. Apo geothermal power plants’ contracted capacities.

In a statement on Tuesday, PSALM announced that the list was narrowed down from the original nine parties that bought bid documents outlining the selection process for the Mt. Apo independent power producer administrator (IPPA).

“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 investor groups have qualified to participate in the Mt. Apo 1 and 2 IPPA auction,” PSALM President Emmanuel R. Ledesma, Jr. said in the statement.

Mr. Ledesma identified the qualified firms as: EDC Mindanao Geothermal, Inc.; FDC Misamis Power Corp.; GDF Suez Energy Philippines, Inc.; SMC Global Power Holdings Corp.; Therma Southern Mindanao, Inc.; Trans-Asia Oil and Energy Development Corp.; and Vivant Geo Power Corp.

Deadline for the submission of bids is scheduled for 12:00 noon on Wednesday, with the opening and evaluation to follow immediately.

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

The winning bidder will be in charge of selling the capacity generated by the two power plants under two separate IPP contracts.

Each of the power plants has a capacity of 54.24 megawatts. -- Claire-Ann Marie C. Feliciano