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PIA Press Release

Palinpinon geothermal, Panay diesel plants on auction block

Manila (11 September) -- In line with the government's efforts to accelerate the privatization program and to help boost government revenues, the Power Sector Assets and Liabilities Management Corporation (PSALM) is now putting the Palinpinon Geothermal and Panay Diesel Power Plants on the auction block.

PSALM is offering the 192.5-MW Palinpinon Geothermal and 146.5-MW Panay Diesel Power Plants as one Generation Package, which will include a power supply allocation. The power plants were officially offered to prospective bidders on Friday, 07 September 2007, through a published Invitation to Bid.

The Palinpinon and Panay Power Plants are located in the Visayas region, with the Palinpinon facility strategically located between the islands of Panay and Cebu. Palinpinon supplies 60 MW to Panay to supplement the power demand deficiency in the island.

Investors have until Monday, 17 September, to submit their Letters of Interest to PSALM. Prospective investors will be provided Bidding Packages upon their execution of a Confidentiality Agreement and Undertaking with PSALM, as well as payment of a non-refundable participation fee of USD2,000. The deadline for meeting these requirements is on Wednesday, 19 September.

The Pre-Bid Conference is scheduled on Friday, 28 September, at the PSALM office in Makati. The deadline for submission of bids is 12 noon on Wednesday, 05 December.

Commissioned in 1983, the Palinpinon Geothermal Power Plant consists of two power stations, the Palinpinon I and II. The plant uses geothermal steam supplied by the Philippine National Oil Company-Energy Development Corporation.

Connected to a submarine cable that links the Negros and Panay islands, the Palinpinon power plant currently supplies 18% to 20% of the electricity demand in the Cebu-Negros-Panay-Bohol-Leyte-Samar Grid.

The Panay Diesel Power Plant consists of the 36.5-MW Panay 1 Diesel Power Plant and the 110-MW Panay 3 Diesel Power Plant. Panay 1 was commissioned in 1979, while Panay 3, also known as the "Pinamucan Diesel Power Plant," was relocated/transferred from its Batangas site after the expiration of the BOT (Build-Operate-Transfer) contract with Enron Power Development Corporation in 2003, to prevent a potential near-term shortage of power and to provide voltage stabilization in the island of Panay.

The Panay 1 and 3 Diesel plants are the only land-based facilities of the National Power Corp. in the island. They are peaking plants that provide ancillary services such as backup power, load following, system frequency, and voltage regulation. (PIA-MMIO) [top]

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