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MAJORITY of the interested groups vying for the Tiwi-Makban
geothermal power complex have passed the initial stages of the
bidding process set by state-run Power Sector Assets and Liabilities
Management Corp. (PSALM).
The facility, which straddles the provinces of
Albay, Batangas and Laguna, is up for privatization come June.
In a statement, PSALM said that nine of the 10 parties that
submitted their respective letters of intent to bid for the
747-megawatt plant have complied with its requirements. Interested
parties were given until March 12 this year to submit their letters
of intent.
The lone party that was disqualified was unable
to meet the deadline.
As a prerequisite to the issuance of the bidding package for the
facility, interested parties are required to execute a
Confidentiality Agreement and Undertaking with PSALM and pay a
non-refundable participation fee of $2,000 not later than March 14.
Under PSALM’s bidding schedule for the facility, a pre-bid
conference will be held on April 2 to give the potential bidders the
opportunity to clarify issues and concerns about the bid transaction
documents.
PSALM said five of the interested bidders are from the Philippines,
two from Europe, one from North America, and the last from the
Asia-Pacific region.
The state-run firm refrained from identifying the parties but among
the local companies that earlier indicated their interest in the
plant were Aboitiz Power Corp., Trans-Asia Power Corp., First Gen
Corp. and Philippine National Oil Company-Energy Development Corp.
Psalm said two of the investor groups had participated in the first
round of bidding for the Tiwi-Makban geothermal power plant
scheduled in 2005. The agency however, had to defer that bidding to
update the transaction documents and bidding procedures.
-- Euan Paulo C. Añonuevo
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