SMC Global Power to be one of the bidders for Unified Leyte plants
Tongonan, Leyte Geothermal power plant, Philippines
Alexander Richter
14 Aug 2013
The Philippines largest power trader, SMC Global Power Holding, power arm of conglomerate San Miguel Corp (SMC) has announced that it will bid for the 440 MW of the Leyte geothermal power facility.
Last year, PSALM, the Philippines Power Sector Assets and Liabilities Management Corp. (PSALM) announced the auction for 440 MW of the Leyte geothermal power facility.
SMC Global Power Holdings Corp., the power arm of conglomerate San Miguel Corp. (SMC), has now confirmed that it will join the bidding for the rights over Unified Leyte geothermal power plants’ output.
SMC Global is the Philippines’ largest power trader, currently administering capacities of a coal, hydropower and a natural gas power facility.
“The winning bidder in the auction of PSALM can own the rights to the strips of energy from the Visayas-based geothermal plants ranging from 1 MW to 40 MW max.
PSALM explained only 200 MW of the 240 MW strips it owns would be sold. The remaining 40 MW would be retained to serve as security capacity.
The second package includes 240 MW of allocated capacity to be offered in one bulk. The winner of would become the administrator of the bulk energy, and would own the rights to the capacity that is in excess of the 240 MW strips, said PSALM.
The winning bidder for the bulk energy would also be responsible for trading Unified Leyte plants’ total energy output (bulk and sum of strips).”
Source: Rappler.com
