News

Philippines: privatization of unified Leyte plants postponed

Tongonan, Leyte Geothermal power plant, Philippines
Alexander Richter 30 Jul 2010

The Power Sector Assets and Liabilities Management Corp. (PSALM) postponed the privatization of Unified Leyte geothermal power plant's contracted capacities, which was to be held on July 30, 2010. .

After ongoing requests for a postponement of the privatization of the Unified Leyte geothermal power plant, e.g. through the Asociation of Visayas Electric Cooperatives (news),  “the Power Sector Assets and Liabilities Management Corp. (PSALM) has [now] postponed the privatization on July 30 of Unified Leyte geothermal power plant’s contracted capacities.

Conrad Tolentino, PSALM vice president for asset management and energy trading, said Wednesday the postponement was in line with investors’ request for ample time to review and study the bidding terms.

There are at least three groups that are keen to bid for the contracts — Aboitiz Power Corp., Pacifica Inc. of the Romero Group, and First Gen Corp., the parent firm of Energy Development Corp.

The PSALM official, however, did not disclose the new bidding date for the geothermal complex’ contracted capacity.

The Unified Leyte geothermal plants include the 125-MW Upper Mahiao plant, the 232-MW Malitbog and 180-MW Mahanagdong plants, and the 51-MW Optimization plants. Energy Development operates these plants.”

Source: GMA News