PGI eyes 2 gencos

The Philippine Geothermal Inc. (PGI) is interested in bidding for two generation companies (gencos) particularly the Bac-Man and Palinpinon geothermal plants.

PGI is the Philippine subsidiary of US firm Unocal Corp. It is presently operating the Tiwi and Makiling-Banahaw steamfields and power plant.

According to PGI executive vice president Luli Heras-de Leon, the company wants to participate in the privatization of Genco III and IV once the Comprehensive Electricity Reform Bill is pass into law.

"We are particularly interested in the Bacon-Manito (Bac-Man) I & II in Luzon, and Palinpinon I & II in southern Negros," de Leon said.

Commissioned in 1993, Bac-Man I has a capacity of 110-megawatts (MW), Bacman II (1994) with 40-MW, and a binary plant (1998) with a capacity of 12-MW.

Palinpinon I (commissioned in 1983) on the other hand, has a generation capacity of 112.5-MW while Palinpinon II (1995) generates some 80-MW.

Both Bac-Man and Palinpinon have similar features. They are both geothermal steamfields with the rights to steamfield held by the Philippine National Oil Co. Energy Development Corp. (PNOC-EDC) and they are both owned and operated by the National Power Corp. (Napocor).

In the event that PGI's plan pushes through, they will have to undertake a service contract with PNOC-EDC for the steamfields while it must purchase the power plants from Napocor.

Genco III is composed of the Bac-man plant, the Pulangui and Loboc hydroelectric plants, the Cebu II coal-fired plant, and the Amlan, General Santos, Bohol and Panay diesel-fired plant.

Genco IV is composed of the Palinpinon geothermal plants, and the Tongonan geothermal plant in Leyte.