Philippines:

FDC Misamis Passes Post-Qualifying Phase for Mt. Apo Geothermal IPPA (BusinessWorld Online Edition)

On 24 September 2014, PSALM declared FDC Misamis Power Corporation
as the highest bidder in its selection and appointment of the Independent Power
Producer Administrator (IPPA) for the output of the Mindanao I and II
(Mt. Apo 1 and 2) Geothermal Power Plants – the government’s first IPPA
auction in Mindanao.

A unit of Filinvest Development Corp. (FDC) is set to formally take over the contracted capacities of the Mt. Apo geothermal power plants by next month, an official said yesterday.

“The notice of award for Mt. Apo plants was already issued to FDC Misamis [Power Corp.],” said Emmanuel R. Ledesma, Jr., president and chief executive officer of the Power Sector Assets and Liabilities Management Corp. (PSALM).

Mr. Ledesma said the notice was issued following the completion of a post-qualification evaluation of the documents submitted by FDC Misamis.

“The effectivity of Mt. Apo IPPA (independent power producer administrator) contract will be on Dec. 26,” he noted.

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