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PIA Press Release

Palinpinon-Panay plants attract 10 bidders

Manila (20 September) -- In response to the Invitation to Bid published by the Power Sector Assets and Liabilities Management Corporation (PSALM) on Friday, 07 September, a total of ten (10) investors submitted Letters of Interest (LOI) and documentary requirements to bid for the Palinpinon-Panay generation package.

Thirteen (13) interested investors initially submitted their LOIs to PSALM, but of the 13 interested investors only ten (10) were able to comply with the LOI requirements.

The deadline for submission of LOIs was last Monday, 17 September, while the deadline for meeting the LOI requirements was last Wednesday, 19 September.

Out of the ten interested parties, eight (8) are local participants while two (2) are foreign participants. The Palinpinon-Panay generation package attracted one investor each from the Asia-Pacific and UK & Europe regions.

Nine (9) interested parties are classified as being in the electric utility business, and only one (1) is a non-electric utility business. Eight (8) of these investors have also previously participated in PSALM's bidding procedures, while only two (2) are new participants.

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.

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.

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

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