9 firms want to manage Mt. Apo geothermal plants

DAVAO CITY, Philippines – At least nine utility firms have signified interest as independent power producer administrator (IPPA) of the Mt. Apo geothermal plants 1 and 2 after they complied with the initial bidding requirements.

According to the Power Sector Assets and Liabilities Management Corp. (PSALM), most of the nine pre-qualified companies have existing power projects in Mindanao.

The bidding is actually PSALM’s first IPPA auction in Mindanao, with the Mt. Apo administrator managing the contracted output of the geothermal plants 1 and 2 – 390 and 398 gigawatt-hours (GWh) per year, respectively, for 25 years (until Feb. 15, 2022 for the first and June 17, 2024 for the second).

The two geothermal plants, both located in Kidapawan City, North Cotabato, each generate 54.24 megawatts.

Among the power companies that expressed interest in running the geothermal plants are SMC Global Power Holdings Corp., Therma Southern Mindanao Inc., EDC Mindanao Geothermal Inc., FDC Misamis Power Corp., GDF Suez Energy Philippines Inc., Good Friends Hydro Resources Corp., SPC Power Corp., Trans-Asia Oil and Energy Development Corp., and Vivant Geo Power Corp.

SMC Global Power Holdings Corp. is now 60 percent into its construction of a 450-MW coal-fired plant in Malita, Davao del Sur.

Therma Southern Mindanao Inc., an Aboitiz subsidiary, is also nearing the completion of a 650-MW coal-fired power plant in Barangay Binugao, Toril district here.

PSALM will hold the IPPA pre-bid conference on June 26, with deadline for the bids on Sept. 24.