October 06, 2014

Seven investors group qualified for today’s Mindanao IPPA auction

The Power Sector Assets and Liabilities Management Corp (PSALM) said seven investor groups have qualified to participate in today’s auction for the Independent Power Producer Administrator (IPPA) contract of the Mindanao I and II (Mt Apo 1 and 2) geothermal power plants. The groups that have qualified for bidding are

1) Energy Development Corp’s (EDC) EDC Mindanao Geothermal Inc,

2) Aboitiz Power Corp’s (AP) Therma Southern Mindanao Inc,

3) Trans-Asia Oil and Development Corp (TA),

4) San Miguel Corp’s (SMC) SMC Global Power Holdings Corp,

5) Filinvest Development Corp’s (FDC) FDC Misamis Power Corp,

6) Vivant Corp’s (VVT) Vivant Geo Power Corp and

7) GDF Suez Energy Philippines Inc.

The deadline for submission of bids is at 12 noon today with the opening and evaluation of bids to follow after. The winning bidder will be designated as the IPPA of the energy output contracted by the National Power Corp (NPC) with EDC (the power plant’s owner) that expires on 15 February 2022 for Mindanao I and 17 June 2024 for Mindanao II. Mindanao I and II have a rated capacity of 54.24 MW each. - WealthSec