"We are setting our sights on several generation assets of Napocor. We are eyeing Naga and Calaca power plants, Fenix said, when asked if they are interested to participate in the privatization of the state-owned power firm.
Napocor is scheduled to sell its transmission assets within the year and its generation facilities in the first half of 2003. Based on the privatization plan, the transmission facilities will be leased out to a qualified concessionaire while the generation assets will be sold by cluster or individually based on investors’ needs.
Salcon has a 15-year rehabilitate-operate-maintain contract with Napocor for Naga. Calaca, located in Batangas, is also owned by Napocor.
At present, Salcon operates 10 power facilities in Naga consisting of two coal-fired thermal power plants, six diesel-run power plants and two gas turbines. These facilities have a total capacity of 203 megawatts (MW).
Aside from these generation plants, Fenix said they are also interested in other investments in energy and distribution. "We are working something out with the electric cooperatives to strengthen them," the Salcon official said.
He said they are also exploring some business opportunities to promote the use of renewable energy sources. "We are coordinating with the electric co-ops to develop hybrid wind-diesel power plants and solar energy sources," he added.
These small renewable power sources, he said, would likely be located in small islands in Catanduanes, Marinduque, Romblon, Palawan, Mindoro and Sulu.
Salcon is owned by a group of Singaporean and Filipino businessmen. It was listed in the Philippine Stock Exchange in May this year. – Donnabelle Gatdula