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Trans-Asia withdraws bid for Leyte contracts

Tongonan, Leyte Geothermal power plant, Philippines
Francisco Rojas 31 Aug 2015

The other three bidders for the Leyte IPPA are SPC Power Corp.; Therma Central Visayas Inc.; and Unified Leyte Geothermal Energy Inc.

Local news from the Philippines state that Trans-Asia Oil and Energy Development Corp. is “no longer interested to bid for the selection and appointment of an independent power producer administrator (IPPA) for the bulk energy of the Unified Leyte Geothermal Power Plants (ULGPP)”, its top official said. The ULGPP consists of the 125 MW Upper Mahiao, 232.5-MW Malitbog, 180-MW Mahanagdong and 51-MW Optimization plants.

As stated on earlier news several companies had expressed their interest on the IPPA but now Trans-Asia states that it will look into coal due to the “lower” costs of development. The firm still has interst in geothermal projects since, it “is now laying the ground work for additional projects to address the country’s power needs for the 2018-2023 period. These include the expansion of the 20-MW geothermal power plant under Maibarara Geothermal Inc. for another 10 MW.”

The other three bidders for the IPPA are SPC Power Corp.; Therma Central Visayas Inc.; and Unified Leyte Geothermal Energy Inc.

Source: Business Mirror