June 10, 2014

9 groups set to bid for Mt Apo geothermal plant IPPA

Newsportal interaksyon.com reported today that nine groups are set to bid for the independent power producer administrator (IPPA) contracts of the Mt. Apo 1 (52MW) and 2 (54MW) plants which are set to be auctioned by the Power Sector Assets and Liabilities Management Corp. The pre-qualified bidders include EDC Mindanao Geothermal Inc, FDC Misamis Power Corp, GDF SUEZ Energy Philippines Inc, Good Friends Hydro Resources Corp, SMC Global Power Holdings Corp, SPC Power Corp, Therma Southern Mindanao Inc, Trans-Asia Oil and Energy Development Corp, and Vivant Geo Power Corp. The winning IPPA will manage the contracted output of 390GWh/year and 398 GWh/year for Mt. Apo 1 and 2, respectively. EDC owns and operates these geothermal power plants.

Our take: What will make the contract attractive is that the plants serve Mindanao which is currently suffering from power shortages. – Jason Lee