Highest bidder announced for Mt. Apo contracts
Singapore, Marina Bay (source: flickr/ shayanlinux, creative commons)
Francisco Rojas
26 Sep 2014
A unit of the Filinvest Group topped the bidding for the right to manage the government's contracted output with the Mt. Apo geothermal power plants in Mindanao.
In a message, Emmanuel R. Ledesma, Jr., Power Sector Assets and Liabilities Management Corp (Psalm) president, said FDC Misamis Power Corp posted the highest offer for the Mindanao I and II (Mt. Apo 1 and 2) geothermal plants’ independent power producer administrator (IPPA) selection.
The winning IPPA will have the right to manage the output of the said power facilities, which the government has contracted.
FDC Misamis offered P128 million in monthly payments for the contract, edging out the P50-million bid of SMC Global Power Holdings Corp.
Ledesma said only FDC Misamis’ bid met the reserve price. The two companies were the only bidders out of 7 that Psalm had pre-qualified.
Ledesma said Psalm still has to verify the accuracy, authenticity, and completeness of the documents submitted by FDC Misamis, including the manager’s check and its full compliance with the bidding procedures, before issuing a notice of award and officially declaring the company as the winning bidder.
The Mt. Apo 1 and Mt. Apo 2 geothermal power plants have a rated capacity of 54.24 megawatts (MW) each, and are located in Kidapawan City, North Cotabato.
Owned and operated by the Energy Development Corp, the power plants were commissioned on February 15, 1997 (Mt. Apo 1) and June 17, 1999 (Mt. Apo 2) under a build, operate, and own contract scheme. The contracts will last for 25 years.
Source: Interaksyon
