Kepco eyes Napocor’s major hydro, geothermal plants

Kepco Philippines Corp. (Kephilco), the local arm of Korea Electric Power Corp. (Kepco), will participate in the privatization of the National Power Corp.’s major hydro and geothermal power generating assets, a top company official said.

Kephilco general manager Joon Ho Sin said they have already submitted their letter of intent to bid for the 100-megawatt (MW)Pantabangan and the 12-MW Masiway hydropower plants. These power plants are scheduled to be auctioned off in the third quarter of this year.

Joon said they have also signified keen interest to join the bidding for the 275-MW Tiwi and the 425-MW Makban geothermal power facilities.

The Kephilco executive said they have the knowledge and technology to maintain and operate these power plants.

He added that they would use internally-generated funds to finance their bids for these Napocor assets.

Kephilco earlier said it is also looking at the possibility of participating in the bidding for other geothermal power facilities such as the 192-MW Palinpinon geothermal plant in Negros and the 112.5-MW Tongonan geothermal plant.

The Korean power firm has a rehabilitate-operate-maintain contract for the 650-MW Malaya thermal power plant in Pillilia, Rizal.

It also has a build-operate-transfer contract for the 1,200-MW Ilijan natural gas power project in Ilijan, Batangas.