"We have been receiving some offers from US-based power companies who want to construct power plants in their country due to power shortage there," Perez said, adding that they have opted for a bidding instead of a negotiated sale.
The gas turbines worth about $30 (P1.5 billion) are the subject of a legal battle between Napocor and Delta Power International Corp. (DPIC).
Documents obtained by reporters show that the gas turbines were offered in a bidding held in November 1999. The DPIC, with an offer of $24 million, won the bidding and posted a performance bond of $2.4 million.
However, in August last year, DPIC informed the Napocor of its intention to terminate the deed of sale (DOS) on the ground that a third-party interruption frustrated the acquisition of the gas turbines.
But, this was not accepted by Napocor which threatened to garnish DPIC’s $2.4-million bond.