SPC unit bids highest for power barges

SPC Power subsidiary SPC Island Power Corp. submitted the highest bid for the first package of power barges (PBs) put up for auction by the Power Sector Assets and Liabilities Management Corp. (PSALM).

Package 1 included PBs 101, 102, and 103—all based in Iloilo province. Package 2 had PB 104, which is based in Mindanao.

Only three of eight expected bidders submitted proposals for Packages 1 and 2. The three were SPC Island, Trans-Asia Oil and Energy Development Corp., and D.M. Wenceslao and Associates Inc.

For Package 1, SPC Island had the highest bid of P545.89 million, followed by Trans-Asia’s P370.52 million bid.

For Package 2, bidding failed as none of the bidders met the reserve price that PSALM set.

Another round of bidding will be held for PB 104, which has to be operated in Mindanao for five years.

“The declaration of the winning bidder for Package 1 will be done at a later date in accordance with the bidding procedures, subject to the confirmation and verification of the accuracy, authenticity, and completeness of the documents submitted, including the standby letters of credit,” PSALM president and CEO Emmanuel R. Ledesma Jr. said in a statement late Wednesday after the bidding.

PBs 101, 102, 103 and 104 are 32MW barge-mounted bunker-fired diesel generating power stations that consist of four identical Hitachi-Sulzer diesel generator units. Each unit is rated at 8MW.

Commissioned in 1981, PBs 101 and 102 are currently stationed at Bo. Obrero in Iloilo City. PBs 103 and 104, which began operating in 1985, are moored in Botongon, Estancia, Iloilo, and at the Holcim Compound, Ilang, Davao City, respectively.

In August, eight companies, expressed interest in the rebidding of the Power Barges (PBs) 101, 102, 103 and 104.

At the time, the state-owned firm said all eight prospective bidders satisfied the initial requirements.

The eight were SPC Island, Vivant Corp., Aboitiz Power Corp. subsidiary Therma Power Visayas Inc., Trans-Asia, Maryland-based American Capital Energy and Infrastructure, D.M. Wenceslao and Associates, Filinvest Development Corp. subsidiary FDC Utilities Inc., and S.L. Development Construction Corp.