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Trans-Asia wins bid for 40 MW of Unified Leyte contracts

Trans-Asia wins bid for 40 MW of Unified Leyte contracts Tongonan, Leyte Geothermal power plant, Philippines
Alexander Richter 14 Feb 2014

Trans-Asia Oil & Energy Development Corp. has won its bid for a 40 MW portion of independent power producer administrator contracts with the Unified Leyte geothermal plants in the Philippines.

Reported earlier this week, “Trans-Asia Oil & Energy Development Corp’s bid for a portion of the Unified Leyte Geothermal Power Plants’ (ULGPP) generating capacity has been accepted by the Power Sector Assets and Liabilities Management Corp (PSALM).

In a disclosure to the Philippine Stock Exchange, Trans-Asia said that it received the notice of award from PSALM for 40 strips of energy equivalent to 40 megawatts (MW) of the ULGPP’s output.

As independent power producer administrator (IPPA), Trans-Asia will take control of the said contracted capacity.

The company joins Aboitiz Power Corp and Vivant Corp among those whose offers for the 600-MW ULGPP output were approved by the government-run firm.

PSALM auctioned off the Unified Leyte power complex IPPAs last year and drew Vivant’s winning offer of P4.6629 per kiloWatt-hour (kWh) as its selling price.

It apportioned around 200 MWs out of 240 MW energy strips carved out of the ULGPP’s contracted capacity among the winning bidders. The state-administered firm kept the remaining 40 MW energy strips for the government.

The ULGPP IPPA contracts also include the bulk energy contract for the right to the capacity in excess of the 240 MW energy strips.”

Source: InterAksyon