Mirant's buyers asked to meet power demand

Despite strong opposition from environmental groups, energy officials had asked potential buyers of Mirant Philippines' assets to assume its projects and meet power demands in the future.

This was learned during a meeting participated by government officials, senior officials of Mirant Philippines and potential bidders of its energy assets in the country. These assets are currently being sold as part of Mirant's global restructuring.

Interested bidders were also asked to present their respective plans for the expansion of Mirant's existing assets to "meet additional power demand in the coming years."

The Department of Energy said the recent meeting between interested bidders and government officials provided an opportunity for the government to discuss its energy development priorities with all bidders.

During the meeting, bidders were also made to outline their technical and financial capabilities, their long-term interest in the Philippines and their commitment to further develop Mirant's assets should they win in their bid.

Few months ago, Mirant sold its assets on Panay Island and Cebu to Metro Global. The firm is however now looking for additional projects that would support the economic and power demand growth of these two major islands.

But even before Mirant sold its assets, massive protests were already launched to block its proposed expansion projects, especially those in Toledo City.

Protestors said Mirant, the biggest independent power producer in the country, has a bad track record for emitting poisonous elements that are detrimental to the human health and environment.

Mirant plans to add another 220-megawatt plant to expand its existing 75-megawatt plant in Toledo City.

Hobbled by financial challenges, Mirant's mother company in the US earlier claimed it is not in a position to finance expansion projects in the Philippines.

But DOE said that other major energy players that are not suffering from such handicap see their possible acquisition of Mirant's assets in the country as a takeoff point for acquiring additional energy either through new or expansion projects or acquisition of existing plants and assets of National Power Corporation. - Wenna A. Berondo