PSALM sets bid for BacMan geothermal plant

MANILA, Philippines - The Power Sector Assets and Liabilities Management Corp. (PSALM) has set the bidding date for the Bacon Manito geothermal power plant complex, the last geothermal facility to be disposed by the government on May 5.

PSALM said the privatization of the BacMan power plants will involve two units: the 55-MW BacMan I plant in Manito, Albay and two units of 20-MW BacMan II plants (Cawayan and Botong) in Sorsogon City, Sorsogon.

The geothermal asset will be disposed on an “as is, where is” basis PSALM pointed out.

The asset management firm said all prospective bidders should submit letters of interest for the bidding not later than March 26.

Based on the bidding rules, PSALM requires bidders to pay a non-refundable fee of $2,000 either in cash, manager’s check or cashier’s check. 

A pre-bid conference for all interested bidders will be held on April 6.

“The bidding package, which includes the bidding procedures, shall be issued during office hours from March 17 until March 30 at the PSALM office. Only interested parties who have been issued the bidding package by the deadline will be allowed to participate further in the privatization of the asset,” it said.

PSALM vice president Conrad Tolentino said BacMan would be the last geothermal power plant to be placed on the auction block since the rest would involve the privatization of contracts to independent power producer administrators (IPPAs).

The BacMan power plants are being supplied by the BacMan geothermal production field in Sorsogon operated by Energy Development Corp., of the Lopez group.

EDC is among those that have signified interest to join the bidding for BacMan.

The geothermal field, estimated at 25,000 hectares, covers the boundary of Legaspi City, Sorsogon City, Bacon District of Sorsogon City and the town of Manito, Albay in the Bicol Region.

PSALM intends to bid out the 246 MW Angat hydroelectric power plant in Norzagaray, Bulacan on April 28.

The state agency will also privatize the contracted capacity of the 1,200-MW Ilijan combined cycle power plant on April 16.