Kepco joins Napocor bids
Wednesday, February 01, 2006
By Alena Mae S. Flores
KEPCO Philippines Corp. (Kephilco), a wholly owned subsidiary of Korea Electric Power Corp. (Kepco), plans to join the bidding for the geothermal assets of National Power Corp. (Napocor).
Kephilco president Gil Gu Lee told reporters the company is interested in the 192-megawatt Palinpinon geothermal plant in Negros Oriental, the 112.5-mw Tongonan geothermal plant in Southern Leyte, 275-mw Tiwi facility in Tiwi, Albay and the 425.3-mw Makban plant in Laguna and Batangas.
A Department of Energy status report showed that the Palinpinon plant would be sold within the first quarter and Tongonan by the second quarter. Tiwi and Makban geothermal power plants were offered to investors late last year with the publication of an invitation to bid. The actual bidding process, however, has been delayed for undisclosed reasons.
Lee said the geothermal plants are Kephilco’s “top priority” when bidding for assets of Napocor.
He said the company was also interested in bidding for coal-fired and hydro power plants to be auctioned by the government. At least four hydro plants are slated for privatization within the year, namely the 75-mw Ambuklao, 100-mw Binga, 0.8-mw Amlan and 246-mw Angat. Lee, however, urged the government to address the legal obstacles in the sale of the power plants.
“Without addressing the lender title ownership issue, we cannot proceed,” Lee said.
Kephilco has a rehabilitate-operate-maintain contract for the 650-mw Malaya Thermal Power Plant in Pillilia, Rizal and a build-operate-transfer contract for the 1, 200-mw Ilijan natural gas power project in Ilijan, Batangas.
Kephilco is also pursuing a 200-mw coal power plant in Cebu, which is scheduled for groundbreaking ceremonies today, in partnership with Salcon Power. The first phase of coal power plant in Cebu with a capacity of 100-mw is expected to come on line by 2008 and the next phase by 2009. The project is estimated to cost P15 billion.
The plant is designed to utilize a circulating fluidized bed combustion technology and will utilize coal produced from the Semirara mining facility in Antique province and Malangas, Zamboanga.
Kephilco plans to also invest $50 million to build the Luzon-Mindoro submarine cable. Kepco is advancing the funding for the construction of the 230-kilovolt line. Kephilco is pushing for the submarine cable project to “create a market” for its 1,200-mw Ilijan natural gas power plant in Batangas
posted by philpower @ 11:45 AM,
