Leyte Bidding Winner Withdraws (Business Mirror)
Unified Leyte Geothermal Energy Inc. (ULGEI), a wholly owned subsidiary of Energy Development Corp., said on Friday it received a notice from the Power Sector Assets and Liabilities Management Corp. (PSALM) which approved its withdrawal from the Unified Leyte Geothermal Power Plant (ULGPP) independent power producer administrator (Ippa) bidding for bulk-energy supply
“PSALM accepts ULGEI’s decision not to accept the award as winning bidder for the bulk energy of ULGPP, subject to subsequent determination/evaluation of the forfeiture of ULGEI’s bid security and ULGEI’s qualification to participate further in the rebidding process for said bulk energy,” said EDC Investor Relations Manager and Company Information Officer Erudito Recio in a disclosure.
In November ULGEI has decided not to accept the award of its winning bids in the ULGPP auction because its power facilities in Leyte were severely damaged by Supertyphoon Yolanda.
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