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PIA Press Release

11 groups to bid for Ambuklao-Binga power plants

Manila (20 September) -- The forthcoming public auction for the 75 megawatt (MW) Ambuklao and 100 MW Binga hydroelectric power plants that would be bid out as one package on 28 November drew interest from 11 investor groups, disclosed the Power Sector Assets and Liabilities Management Corporation (PSALM). The prospective investors sent their respective expression of interest to PSALM before the 14 September deadline for submission.

Of the 11 interested parties, eight come from the Philippines, some of these investor groups have foreign partners. The three other groups are foreign investors, including one from the Asia-Pacific Region, and two from the United Kingdom and Europe. Three of the investor groups are new participants in the privatization program of PSALM.

PSALM is in close coordination with the National Power Corp., Department of Environment and Natural Resources, National Commission on Indigenous Peoples and other government agencies to resolve specific issues underlying the sale of the plants. The settlement of land issues is a critical concern for investors and will impact on the successful privatization of these plants.

On 19 September, PSALM started issuing to interested bidders the bidding package, including the draft transaction documents. The pre-bid conference for the Ambuklao-Binga facilities located in Benguet province will be held on 26 September. The conference will give interested bidders the opportunity to clarify issues and concerns about the bid transaction documents. The final version of these documents, which will include issues raised during the pre-bid conference, will be released on 08 November.

Meanwhile, preparations are in earnest for the auction of the 600-MW coal-fired Calaca Thermal power plant in Batangas province which will be bid out on 16 October, and the 192.5-MW Palinpinon geothermal plant in Negros Oriental and the 146.5-MW Panay diesel plant in Iloilo province, which will be auctioned off as one package on 05 December. (PIA-MMIO) [top]

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