Seven investor groups have already expressed their interest to join the bidding for the P2.6-billion rehabilitation of the units 1 and 2 of Agus VI hydroelectric power plant, Power Sector Assets and Liabilities Management (Psalm) Corp. said on Tuesday.
Psalm said that a group of investors including Alstom Philippines, China International Water and Electric Corp., HydroChina ZhongNan-HEC-BSPJV, Kaltimex Energy Philippines Inc., PHP Philippine Hydro Project Inc., Vicente T. Lao Construction and Zhejiang Fuchunjiang Hydropower Equipment Co. Ltd., have already purchased bidding documents for Agus VI rehab and are currently conducting their due diligence on the project.
“We are happy with the turnout, and we hope everyone submits a bid. Other interested parties may still join this procurement project even until bidding day, as long as they purchase the bidding documents and submit the documentary requirements,” said Emmanuel Ledesma Jr., Psalm president and chief executive officer.
The project aims to increase the power output of units 1 and 2 of the Agus VI power plant from 25 megawatts (MW) to 34.5 MW each. It also aims to extend their economic life to another 30 years.
Upon award, the project is expected to be completed within 900 calendar days.
The 200-MW Agus VI power plant is a run-of-river hydro plant located downstream of the famed Maria Cristina Falls in Fuentes, Iligan City.
The plant consists of Units 1 and 2 with rated capacities of 25 MW each, and Units 3, 4 and 5 at 50 MW each.
MADELAINE B. MIRAFLOR