Top Bid Announced for Mt. Apo Geothermal Output (Manila Standard Today)
FDC Misamis Power Corp., a unit of Filinvest Development Corp. owned by the Gotianun family, emerged as the highest bidder for the right to manage the output of Mount Apo 1 and 2 geothermal power plants.
Power Sector Assets and Liabilities Management Corp. (PSALM) said FDC Misamis offered P128 million in monthly payment to become the independent power producer administrator of the North Cotabato geothermal power plants, with a rated capacity of 54.24 megawatts each.
PSALM president and chief executive Emmanuel Ledesma Jr. said FDC Misamis topped the P50-million bid of SMC Global Power Holdings Corp. of San Miguel Corp., which also participated in the bidding Wednesday.
The power privatization firm said of the seven prequalified bidders, only the two companies submitted offers before the 12 noon deadline. The winning bidder will sell the contracted capacity of the Mt. Apo geothermal plants.
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