EDC makes highest bid in Philippine geothermal plants administration tender

Nov 11, 2013 - Philippine firm Energy Development Corp (PSE:EDC) today said one of its units had been named the highest ranking bidder in a tender for the administration of a part of the 588.5-MW Unified Leyte geothermal complex.

Now the privatisation, bids and award committee of the Power Sector Assets and Liabilities Management Corp (PSALM) will take the bid to the post-qualification process. If named winning bidder, EDC’s wholly-owned subsidiary Unified Leyte Geothermal Energy Inc will be in charge of the trading and marketing of the Unified Leyte capacity in excess of 240 MW once the existing outstanding transition supply contracts expire.

EDC is also participating in another tended for the Leyte complex, where it joined the list of the seven highest ranking bidders. More specifically, this summer the PSALM commenced a competitive bidding process for Independent Power Producer Administrators (IPPAs) for a certain geothermal capacity in the Leyte province. One bidder can get rights to capacity of at least 1 MW but no more than 40 MW, while the total capacity to be allotted under the “Strips of Energy” scheme stands at 200 MW. EDC’s bid is for the maximum 40 MW.

Among the highest ranking bidders for the strips of energy are also Philippine firms Trans-Asia Oil & Energy Development (PSE:TA) and Aboitiz Power Corp (PSE:AP). The winning bidders in that tender will also be announced following post-qualification procedures.

The Unified Leyte geothermal power complex includes several separate plants -- the 125-MW Upper Mahiao, 232.5-MW Malitbog and 180-MW Mahanagdong facilities as well as 51 MW of optimisation installations. The complex is currently operated by EDC.

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