Philippines:

PSALM Cedes Mt. Apo Geothermal Plants (Manila Standard Today)

Power Sector Assets and Liabilities Management Corp. (PSALM) is set to hand over the management of the contracts of the Mt. Apo 1 and 2 geothermal power plants in Mindanao and the strips of energy deals of the Unified Leyte geothermal power plants in Visayas to the winning bidders on Dec. 26.

FDC Misamis Power Corp. of the Gotianun group emerged as the highest bidder for the management of the  output of the Mt. Apo (Mindanao I and II) geothermal power plants in September. The company offered P128 million in monthly payment for PSALM’s first Mindanao IPPA.

The Mt. Apo 1 and Mt. Apo 2 geothermal power plants are, located in Kidapawan City, North Cotabato, have a rated capacity of 54.24 megawatts each. The cooperation period for  the Mt. Apo 1 and 2 plants covers 25 years and will expire on Feb. 15, 2022 and June 17, 2024, respectively.

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