MANILA, Philippines -Trans-Asia Oil & Energy Development Corp., a subsidiary of the Phinma Group, is looking to bid for four assets of National Power Corp. (Napocor) which are up for privatization this year.
TA Oil president Francisco Viray said this forms part of the company’s overall thrust which is to continue to participate in government’s privatization efforts.
“We’re looking at Malaya, Bac-man and Bauang diesel in Luzon and Iligan diesel in Mindanao,” Viray said.
In addition, Viray said the firm would pursue projects in wind power.
“Wind will still be pursued,” he said.
In an earlier statement, TA Oil said it would allot some $1 billion for wind power projects over the long-term.
The company has bagged at least 10 wind energy service contracts from the Department of Energy (DOE). These contracts involve a total area of 22,000 hectares in several sites includung Cagayan (3), Guimaras (3), Aklan (2), Camarines Norte and Iloilo.
Viray expressed optimism that these projects would be boosted by the full retail competition which is expected to be in Luzon and the establishment of wholesale electricity spot market in the Visayas this year.
Based on available data, the Power Sector Assets and Liabilities Management Corp. plans to put on the auction block the 150-megawatt (MW) Bacon-Manito (Bac-Man) geotheral power plants in the first quarter.
Within the year, PSALM is also likely to bid out the contracted capacity of the 650-MW Malaya thermal power plant.
PSALM has yet to determine the bidding dates for the 114-MW Iligan I & II diesel power plant complex in Northern Mindanao.
The Bauang power plant will be auctioned off once its contract with Napocor expires this year.