2 more power firms keen on Napocor assets

Two more international power firms have expressed interest in buying the transmission and generation assets of the National Power Corp. (Napocor), Energy Secretary Vincent S. Perez said.

In an interview, Perez said representatives of a German-based firm went to the Department of Energy (DOE) recently to inquire on the status of the sale of Napocor’s transmission assets.

Another prominent power company from Belgium, he said, has also approached him to ask about the generation assets to be sold in the latter part of 2002. He said there are two more companies that have expressed interest to participate in the Napocor’s sale.

The energy chief, however, did not want to reveal the names of the companies since the "talks are all exploratory."

"We don’t want to pre-empt them. We just have to assure them that we are serious in restructuring our power sector and in the privatization of Napocor," he said.

A number of foreign power groups from Hong Kong, Thailand, Singapore and New Zealand have also indicated a desire to buy assets of Napocor.

The Energy secretary said inquiries about the Napocor privatization have increased after the approval of the implementing rules and regulations (IRRs) of the Electric Power Industry Reform Act (EIRA).

Some companies from Thailand, Malaysia and New Zealand also showed interest to bid for Napocor’s assets.

The firms that have already been identified as potential buyers of the assets of Napocor include: Transpower New Zealand Ltd., Tenaga Nasional Berhad, and the Konsortium Logistik Berhad (KLB), the biggest power company in Malaysia.

Spain-based Red Electrica is expected to send an investment mission to the Philippines by the end of this month to firm up its commitment to bid for Transco.

Other groups included in the roster of bidders for Napocor assets are: Intergen, Mid American Energy Holdings Inc., Edison Mission Energy, Hydro Quebec, and National Grid.

Japanese firms – Kansai Electric Corp., Kyushu Electric Corp., Electric Power Development of Japan and Tokyo Electric are also interested, according to Napocor officials.