Twelve groups bid for Mindanao coal IPP

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Twelve groups bid for Mindanao coal IPP

Power Sector Assets and Liabilities Management Corp. (PSALM) has announced that 12 teams have submitted interest in the independent power producer administrator (IPPA) of the 200 MW coal-fired thermal power plant in Mindanao, Philippines.

The 12 teams are the following:

  • Conal Holdings Corp.,
  • FDC Davao Del Norte Power Corp.,
  • FirstGen Northern Power Corp.,
  • GDF Suez Energy Philippines Inc.,
  • Masinloc Power Partners Co. Ltd.,
  • Meralco Powergen Corp.,
  • Nexif Pte Ltd.,
  • SMC Global Power Holdings Corp.,
  • SPC Power Corp.,
  • Team (Philippines) Energy Corp.,
  • Therma Southern Mindanao, Inc. (TSMI) and
  • Vivant Energy Corp.

The IPPA gives the winning bidder the right to manage the electricity produced by the plant.

The 200 MW coal-fired thermal power plant in Mindanao is currently operated by Steag State Power Inc. The plant was developed in 2006 through a 25-year build, operate and transfer (BOT) power purchase agreement (PPA) scheme that finishes by late 2031.

PSALM will hold a pre-bid conference on 6 May 2015. The companies must submit their bids on 23 September 2015.

We have recently reported that Philippines’ Panay Energy Development Corp. (PEDC), a wholly owned subsidiary of Global Business Power Corpation, raised 11 billion pesos (around US$250 million) in the form of a 12-year syndicated loan facility for the 150-megawatt clean coal-fired power plant project in Iloilo City.

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