Trans-Asia eyes IPPAs of three hydro-electric power plant
Posted on September 11th, 2009
Failing to submit their bids in the previous auctions held by the Power Sector Assets and Liabilities Management Corp, Trans-Asia Oil and Energy Development is keen on bagging the IPP (independent power producer) administrator contract of three hydro-electric power plants.
The listed firm plans to bid for the management of National Power Corps.’ IPP contract for the 30-megawatt Benguet Mini-Hydro; 345-MW San Roque Multi-Purpose Hydroelectric Power Plant in Pangasinan; and the 70-MW Bakun Hydroelectric Power Plant in Ilocos Sur.
This was confirmed by Trans-Asia president and chief executive Francisco Viray.
IPPs are at present contracted to supply power to state-run Napocor. When the management of IPP contracts are awarded to private sector, the winning bidder will then be to the one to manage the contracted capacities of the government in IPP power plants.
The bidding for the three hydro IPPAs has already been opened by PSALM, and it is urging all interested parties to submit a Letter of Interest to the Committee on September 18.
Each interested party, before receiving the bidding package, must first execute a Confidentiality Agreement and Undertaking pursuant to Section 78 of Republic Act 9136 and pay a non-refundable participation fee of $10,000.
With its intention to bid for the three hydro IPPAs, Trans-Asia hopes to expand its energy portfolio beyond its proposed wind power projects, which are expected to produce some 400 MW and which will need some $1 billion in new investment.
Other interested parties who want to participate in the auction have until September 14 to undertake a due diligence of the facilities, according to PSALM. On September 30, a pre-bid conference will be held, while the deadline for the submission of bid is set to November 11, 2009.
