The company is set to rebid Limay power plant on August 26, 2009 and the contracts of the 700MW Pagbilao and the 1,000MW Sual coal plants to IPP administrators on August 28, 2009.
Conrad S. Tolentino, spokesman of PSALM, informed that three bidders have shown interest for the Limay plant and six were interested in the Sual and Pagbilao IPPA.
Limay power plant, that commenced operations in 1993, is situated in Bataan. The Limay plant comprises two 310MW modules, Blocks A and B, that include three 70MW gas turbines and a 100MW steam turbine, respectively. The plant was designed to reach the base-load demand of the Luzon grid.
Aboitiz Power intends to participate in the rebidding of the said contracts. A wing of San Miguel, San Miguel Energy would be one among the expected investor groups to participate in the rebidding of the said IPP contracts.
Operated under the build-operate-transfer contracts by Team Energy, the Sual power plant in Sual, Pangasinan, and the Pagbilao plant in Pagbilao, Quezon, would expire in 2024 and 2025, respectively. Aggregate contracted capacities of the Sual and Pagbilao power plants is 1,700MW, which represents around 34.7% of the contracted capacity of the IPP contracts for Luzon and the Visayas.
The privatization level of the state’s generating assets hit 73% after the sale of the 600MW Calaca coal-fired power plant in Batangas to Consunji-led DMCI Holdings in July, 2009.
Under the IPP contracts, the company is pursuing the bidding as it seeks to hit the 70% requirement to privatize the contracted capacities, in order to reach the last precondition for open access and retail competition as stated in the Electric Power Industry Reform Act.
