Aboitiz unit to vie for Naga complex IPPA

Aboitiz Power Corp. has revived plans to bid for the independent power producer administrator (IPPA) contract covering the 146-megawatt Naga power complex in Cebu.

“We registered in the first bidding so we clearly have interest in Naga. We registered again for this new bidding (round),” said APC president Erramon I. Aboitiz.

Power Sector Assets and Liabilities Management Corp. (PSALM) is set to auction off the Naga IPPA contract on October 10.

Aboitiz told reporters that the company had long been interested in bidding for the said contract.

The first bidding for this IPPA was deferred, along with all other bidding schedules in the energy sector, when the Aquino administration took over in the middle of last year.

The planned bidding on October 10 would mark the resumption of the privatization activities of PSALM.

The Naga power plant complex comprises the Cebu thermal power plant 1 with an installed capacity of 50 MW; Cebu thermal power plant 2 with 56.8 MW; and Cebu diesel power plant 1, with 39 MW.

PSALM president and CEO Emmanuel Ledesma Jr. earlier said there were at least 10 companies vying for the Naga IPPA.