Psalm awards ‘strips of energy’ in Unified Leyte

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The Power Sector Assets and Liabilities Management Corp. (Psalm) has awarded to some of the independent power producers the contract to the “strips of energy” in the 588.5-megawatt Unified Leyte Geothermal Power Plant (ULGPP) complex that was bid out late last year.

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In separate filings with the Philippine Stock Exchange, Aboitiz Group and Vivant Corp. both disclosed that they have received an independent power producer administrator contract for the strips of energy they won from the Unified Leyte complex.

Two months before the year 2013 ended, Psalm successfully bid out all the remaining available energy output from ULGPP.

Located in Tongonan, Leyte, the geothermal power complex is composed of the 125-megawatt Upper Mahiao, 232.5-MW Malitbog, and 180-MW Mahanagdong power plants and the 51-MW optimization plants.

As part of the bidding, Psalm also bid out 200 MW or 200 strips 1-MW of energy to independent power producers.

Some of the highest bidders for the strips of energy were FDC Uilities Inc., Aboitiz Energy Solutions Inc. (AESI), Waterfront Mactan Casino Hotel Inc. and Vivant Energy Corp., among others.

The bidding for the selection and appointment of independent power producer (IPP) administrators for the strips of energy of the ULGPP was conducted on November 7, 2013.

On Monday, Aboitiz Power Corp. informed the stock exchange that its wholly owned subsidiary AESI has received the formal notice of award for the appointment of IPP administrator for the strips of energy in ULGPP.

Specifically, AESI was awarded 40 strips of energy, or equivalent to 40 mw of power output, of the ULGPP at P4.6629 per kilowatt-hour rate.

Meanwhile, the wholly owned subsidiary of Vivant Corp., Vivant Energy, said that it has also received the notice of award as the winning bidder as administrator for 17 strips of energy in ULGPP from the Psalm Privatization Bids and Awards Committee.

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