• 4 groups bid for Leyte ULGPP bulk energy deal

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    FOUR investor groups have expressed interest to be appointed as Independent Power Producer Administrator (IPPA) for the bulk energy of the Unified Leyte Geothermal Power Plants (ULGPP).

    State-run Power Sector Assets and Liabilities Management (PSALM) Corp. said the four groups are SPC Power Corp.; Therma Central Visayas Inc.; Trans-Asia Oil and Energy Development Corp.; and Unified Leyte Geothermal Energy Inc. (ULGEI).

    PSALM President and Chief Executive Officer Emmanuel Ledesma Jr. said the four firms met the deadline for the payment of the nonrefundable participation fee and execution of a Confidentiality Agreement and Undertaking with PSALM last March 30.

    “These investor groups have previously 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,” Ledesma said.

    Ledesma said six investor groups had originally submitted Letters of Interest before the lapse of the 24 March 2015 deadline, which include the four firms. The two other parties were Coal Asia Holdings, Inc. and Masinloc Power Partners Co., Ltd.

    Both Coal Asia and Masinloc Power, however, did not pursue the next stage of the bidding process which is the submission of a Confidentiality Agreement and payment of the participation fee.

    PSALM will be holding the pre-bid conference for prospective bidders on May 6, while the bidding and bid evaluation for the ULGPP IPPA Bulk is set on August 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 Corporation and the Energy Development Corporation.

    PSALM is a government-owned and -controlled corporation created under Republic Act No. 9136, otherwise known as the Electric Power Industry Reform Act of 2001 (EPIRA).

    It is tasked to take ownership of all existing generation assets, liabilities, Independent Power Producers (IPP) contracts, real estate and all other disposable assets of the National Power Corporation (NPC).

    It also manages the orderly sale, disposition, and privatization of these NPC assets with the objective of liquidating all NPC financial obligations and stranded contract costs in an optimal manner.

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