Pacifica to bid as 1 entity in IPP auctions

MANILA, Philippines - Publicly-listed Pacifica Inc. said yesterday it will continue to participate in the bidding of independent power producer (IPP) contracts as a single entity.

In a disclosure to the Philippine Stock Exchange (PSE), Pacifica said it informed the Power Sector Assets and Liabilities Management Corp. (PSALM) of the company’s continuing intent to participate, as a single entity and corporation, in the bidding for IPP administrator.

Pacifica said it would be vying for the contracted capacity of the San Roque multi-purpose hydroelectric power plant with an installed capacity of 345 MW located San Manuel, Pangasinan; contracted capacity of Bakun hydroelectric power plant with an installed capacity of 70 MW located in Alilem, Ilocos Sur; and contracted capacity of Benguet Mini-Hydro with an aggregate installed capacity of 30 MW located at Benguet, Cordillera Administrative Region.

Earlier, Pacifica told the PSE that it would enter into a joint venture with local power firm G7 Megapower Corp.

Pacifica is a holding firm previously engaged in energy exploration and development projects.

“One of the business purposes of the corporation is to construct and maintain power plants; therefore, Pacifica is expanding its business opportunities into power related activities,” the company said.

The power plants it is eyeing are located in Pangasinan, Ilocos Sur and Benguet.

PSALM, a state entity mandated to privatize Napocor’s power assets, has scheduled the bidding of the facilities on Nov. 11.

Other companies that have expressed interest to participate in the bidding of these hydropower package contracted capacities include Aboitiz Power Corp., and TeaM Energy, a partnership between Japanese firms Tokyo Electric Power Co. and Marubeni Corp.    — Donnabelle Gatdula