| Plant |
Schedule |
Award Price |
$/kW |
Notes |
| Pantabangan/Masiway 112 MW hydro |
Awarded Sept 2006 to First Gen |
$129 million |
$1,152 |
SN Aboitiz Power submitted next highest bid at $112 million.
Plant Profile: Pantabangan Masiway
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|
| Magat 360 MW Hydro |
Awarded Dec 2006 to SN Power (Norway) Aboitiz consortium |
$530 million |
$1,472 |
Second highest bid was $$420.9 by First Gen. PSALM News Release
Plant Profile
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|
| Masinloc 600 MW Coal |
Awarded July 2007 to AES consortium
|
$930 million |
$1,532/kW based on a 92% interest in 660 MW Gross |
Other bids: $710 million by First Gen; Anglo Cayman (China) $650 million; Suez Tractabel $606 million; Ranhill Berhad $588 million. The floor prices was later disclosed to have been $650 million.
AES subsequently disclosed in 10-K filing that $930 million cash represented purchase of 92% interest in the 660 MW gross plant. IFC owns the other 8%. Also from 10-K: "Including transaction costs and completion of the planned upgrade program to improve environmental and operational performance, the total project cost is estimated to be $1.1 billion." The "acquisition date" was April 2008.
Previous notes: Dec 2005 Award failed to close at $937/kW ($560 million). Ranhill Berhad (Malaysia) subsequently joined the consortium as a lead financial partner. YNN failed to make downpayment due July 2006 and forfeited $14 million performance bond. Government will be lending Consortium 60% of the purchase price over 7 years at 12%.
Plant Profile
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| |
| Binga 100 MW Hydro
Ambuklao 75 MW Hydro
|
SN Aboitiz Power top bid submitted Nov 2007 |
$325 million |
$1,857 |
2nd highest bid $305.5 million by Calaca Power Partners
Plant Profile Binga Ambuklao
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|
| Transco Concession |
Awarded Dec 2007 to China State Grid consortium |
$3.95 billion |
|
PSALM Bid Notice
February 2007 tender plans aborted.
Bids expected had been expected to be in $2.5-3.0 billion range. The three prequalified groups vying for the 25-year concession include the consortium of Triratna Holdings Corp., Tenaga Nasional Berhad, and Newbridge Asia IV, L.P.; the consortium of Citadel Holdings Inc. and Terna SPA; and the consortium of Monte Oro Grid Resources Corp. and State Grid Corp. of China.
News on bid delay
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|
| Tiwi/Mak-Ban 747 MW Geothermal |
Won by AP Renewables Inc. (Aboitiz Power Corp) Jul 2008 |
$446.88 million |
$598/kW |
First Gen's Energy Development Corp. submitted second highest bid at $368.44 million (only two bidders)
PSALM Bid Announcement
Nov 2005 tender, rescheduled.
Plant Profile: Tiwi MakBan
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|
| Iligan Diesel Power Plant 114 Mw |
Bid scheduled for 15 Oct 2008 |
|
|
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| Manila Thermal Power Plant (decommissioned) |
Bid scheduled for Feb 2008 |
|
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Dec 2007 tender, rescheduled for sometime in Feb 2008.
Plant Profile: Tegen
|
|
Calaca 600 MW Coal
|
Awarded to DMCI July 2009 |
$361.7 million |
$602/kW based on name plate.
$770/kW based on 470 MW reliable capacity.
Or $1,033 based on 350 MW current capability.
|
On 8/31/09 DMCI noted current actual combined capability is 350 MW.
The only other bidder in the July 2009 bid was Thailand's Banpu Power at $280 million. DMCI later disclosed that they predicated their bid on 470 MW reliable capacity and do not plan to bring the capacity back up to 600 MW. Alan Ortiz, advisor to San Miguel, subsequently disclosed that DMCI and San Miguel were negotiating to joint bid (but San Miguel did not ultimately participate).
Oct 2007 bidding was awarded to Suez Tractabel consortium for $786.53 million (approx 500 MW dependable, DOE reporting 425 MW dependable) but they cancelled deal in January 2009.
PSALM Notice Other bidders in Oct 2007 were AES and First Gen. Reuters quotes PSALM's Tampinco as saying "Suez's bid was far higher than the next best offer." 287 MW of contracts were attached to the plant. Of this, Meralco takes 169 MW according to this press report.
April 27, 2006 bid declared failure due to one of the two bidders proceeding to wrong venue to submit. First Gen Corp. and DMCI (which owns a controlling interest in Semirara Mining Corp.) submitted bids. PSALM proceeded with "open negotiations" but both final bids were below Government's reserve price of $288 million ($480/kW) - First Gen's being the highest at $176 million. Mitsui and Phil-Mal declined to submit a bid.
May 2005 bidding failed - only one bidder. Sep 2005 re-bid cancelled. Tender now scheduled for Apr 2006. Expect Mitsui and Co. Ltd., Phil-Mal Petroenergy Corp. and First Energy Holdings Corp.
Plant Profile
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| Power Barge 117 & 118 - 100 MW each |
August 2009 award to Aboitiz Power Corp. - Negotiated |
$30 million |
$150/kW based on 200 MW |
|
| Limay 620 MW Combined Cycle |
August 2009 award to San Miguel Corporation |
$12.5 million |
$21/kW based on 620 MW |
Only Bidder. |
| Sual 1,000 MW Coal |
August 2009 award to San Miguel Corporation |
$1.072 billion |
$1,072/kW based on 1000 MW |
|
| Pagbilao 700 MW Coal |
August 2009 award to Therma Luzon (Aboitiz) |
$691 million |
$987/kW based on 700 MW |
|
| Palinpinon 192.5 MW Geothermal
Panay 146.5 MW Diesel
|
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5-12-07 Bid Cancelled
PSALM Notice
|
| Naga LBGT 55 MW |
October 2009 award to SBC in negotiated sale |
$1.008 million |
$18/kW |
SPC agreed to match the reserve price of USD1.008 million (USD1,008,000.00) set by the PSALM Board for the Cebu-based power plant. The company's initial offer was USD429,488.00. |
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