Philippines: Company Withdraws from Unified Leyte Geothermal Power Plants Bidding

Trans-Asia withdraws bid for Leyte geothermal plants (BusinessMirror)

Trans-Asia Oil and Energy Development Corp. is no longer interested to bid for the selection and appointment of an independent power producer administrator (IPPA) for the bulk energy of the Unified Leyte Geothermal Power Plants (ULGPP), its top official said.

“We will no longer bid for it. Geothermal is expensive. It’s capital intensive. Coal is still much cheaper,” Trans Asia President Franciso Viray said in a text message.

Trans-Asia was among the four investor groups that earlier expressed to bid for the supply of bulk energy. The other three are SPC Power Corp.; Therma Central Visayas Inc.; and Unified Leyte Geothermal Energy Inc. All four earlier attended the prebid conference conducted by the Power Sector Assets and Liabilities Management Corp. (PSALM).

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