Philippines: PSALM Declares Busted Leyte Geothermal Bidding

Leyte geothermal bid fails (Manila Standard)

Power Sector Assets and Liabilities Management Corp. (PSALM). declared a failure on the bidding for an independent power producer administrator that will manage the bulk energy of the Unified Leyte Geothermal Power Plants.

PSALM president Lourdes Alzona said “only one bidder” submitted a bid during Wednesday’s privatization process.

Unified Leyte Geothermal Energy Inc., a subsidiary of Energy Development Corp. submitted a bid.

“Yes, [it was a] failed biding for Unified Leyte Bulk IPPA. Only ULGEI submitted a bid. Trans-Asia [Oil and Energy Development Corp.] did not bid. We manifested our willingness to negotiate,” EDC executive vice president Ernesto Pantangco said.

Trans-Asia Oil, a unit of the Phinma Group, earlier said would not pursue its bid.

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