4 firms eye Unified Leyte energy deal

MANILA, Philippines–Four investor groups have signified interest in managing the bulk energy output of the Unified Leyte Geothermal Power Plants (ULGPP), according to data from state firm Power Sector Assets and Liabilities Management (PSALM) Corp.

The four prospective bidders for the government tender on the selection and appointment of the Independent Power Producer Administrator (IPPA) ULGPP-bulk energy are SPC Power Corp., Therma Central Visayas Inc. under the Aboitiz Group’s Aboitiz Power Corp., Trans-Asia Oil and Energy Development Corp., under Phinma Corp., and Unified Leyte Geothermal Energy Inc. under the Lopez Group’s Energy Development Corp.

These companies met the deadline for the payment of the nonrefundable participation fee and execution of a confidentiality agreement and undertaking with PSALM on March 30, PSALM said.

“These investor groups 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,” PSALM president and CEO Emmanuel R. Ledesma, Jr. said.

Six investor groups submitted Letters of Interest before the lapse of the March 24, 2015 deadline, according to PSALM data. The six include the four who paid the participation fee together with Coal Asia Holdings, Inc. and Masinloc Power Partners Co., Ltd.

Coal Asia and Masinloc Power Partners, however, dropped out of the next stage of the bidding process, which is the submission of the confidentiality agreement and payment of the participation fee.

PSALM will next hold the pre-bid conference for prospective bidders on May 6.

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

The ULGPP is composed of the 125-megawatt 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 Corp. and the Energy Development Corp.