Power Sector Assets & Liabilities Management Corporation said that at least four bidders have expressed interest to join the auction for the 150 MW BacMan geothermal power plants in Albay and Sorsogon provinces.

Mr Conrad Tolentino VP of PSALM said that the government would have privatized 91% of the generating assets of National Power Corporation in Luzon and the Visayas if the Bacman bidding was a success.

Bidding for Bacman facilities are Therma Power of the Aboitiz group, Energy Development Corp. of the Lopezes, San Miguel Energy Corporation and Trans Asia Oil & Energy Development Corporation Energy Development provides the steam that fuels the BacMan geothermal plants.

Mr Tolentino said that "The BacMan plants are not in ideal condition although as geothermal assets, they have good potential value. Our expectations have to be weighed against these circumstances."

The first geothermal plant unit consists of two 55 MW turbines, which were both commissioned in 1993. The second consists of two 20 MW units each, known as the Cawayan and the Botong facilities.

Mr Tolentino said that BacMan was the last geothermal power plant to be bid out by the government. PSALM will also auction geothermal supply contracts to independent power producer administrators.

PSALM, the agency tasked to privatized the power assets of the government, will also bid out the 650 MW contracted capacity of the Malaya thermal power plant in Pililia on June 16th 2010. Korea Electric Power Corporation operates the Malaya thermal plant.

Listed Pacifica Inc, led by port operator Michael Romero, has expressed interest to participate in the bidding for the contracted capacity of the Malaya power plant. Romero said that "Pacifica is joining the Malaya bid because of logistical solutions that Harbour Center can provide. The Malaya plant has many logistical problems."

(Sourced from www.manilastandardtoday.com)