Energy firm eyes gov’t hydro plants

By Amy R. Remo
Philippine Daily Inquirer

LISTED FIRM TRANS-ASIA Oil and Energy Development plans to bid for the management of National Power Corp.’s independent power producer contracts of three hydroelectric power plants.

According to Trans-Asia president and chief executive Francisco Viray, the company is keen on bagging the IPP administrator contracts for the 30-megawatt Benguet Mini-Hydro; 345-MW San Roque Multi-Purpose Hydroelectric Power Plant in Pangasinan; and the 70-MW Bakun Hydroelectric Power Plant in Ilocos Sur.

Viray said the company wanted to participate in the previous auctions held by the Power Sector Assets and Liabilities Management Corp., but had failed to push through with its bid.

With its intent to bid for the three hydro IPPAs, Trans-Asia hopes to expand its energy portfolio beyond its proposed wind power projects, which are expected to produce some 400 MW and which will need some $1 billion in new investments.

IPPs are currently contracted to supply power to state-run Napocor. When management of IPP contracts are turned over to the private sector, the winning bidders will then manage the contracted capacities of the government in IPP power plants.

PSALM has already opened the bidding for the three hydro IPPAs, urging interested parties to submit on Sept. 18 a Letter of Interest to the committee.

As a prerequisite to the receipt of the bidding package, interested parties must execute a Confidentiality Agreement and Undertaking pursuant to Section 78 of Republic Act 9136 and pay a nonrefundable participation fee of $10,000.

Interested companies have until Sept. 14 to undertake a due diligence of the facilities, PSALM said. A prebid conference is set on Sept. 30, while the bid submission deadline has been slated on Nov. 11.