Philippines Psalm Says 24 Groups Keen On Napocor's Assets
Sunday, February 19, 2006
MANILA (Dow Jones)--A total of 24 foreign and local groups have expressed interest to bid for four power plants of state utility National Power Corp. (NAP.YY), according to the agency in charge of privatizing Napocor's assets.
In a statement Friday, Power Sector Assets and Liabilities Management Corp., or Psalm, said half of the interested bids consist of local companies, while the rest are from Australia, Europe, Asia and the U.S.
Psalm refused to name the prospective bidders, noting confidentiality agreements.
Froilan Tampinco, Psalm's vice president for asset management and electricity trading group, said four groups are interested in the Calaca coal-fired plant, 13 are looking at the Magat and Pantabangan-Masiway hydroelectric plants, and 15 are keen on the Tiwi-Makban geothermal plant.
Magat has a capacity of 360 megawatts, Pantabangan-Masiway 112 MW, Tiwi-Makban 700 MW, while Calaca's total capacity is 600 MW.
Calaca, Pantabangan-Masiway and Tiwi-Makban are expected to be bid out within the first half of this year. Magat is set to be auctioned in the third quarter.
posted by philpower @ 7:57 PM,
