Pacifica eyes Subic power plant

Pacifica Inc., a listed firm controlled by port operator Michael Romero has expressed interest to bid for the 116 megawatt Subic diesel-fired power plant project, the sole generating facility at the Subic free port.

In a disclosure to the Philippine Stock Exchange, the firm said its board has approved the company's plan “to bid or submit a proposal for the lease, operation and maintenance of the Subic diesel power plant project.”

The firm’s board also approved its plan to enter into a consortium agreement with R-II Builders Inc. “for purposes of the bidding or submission of the pre-qualification requirements and proposal for the SDPP.”

Subic Bay Metropolitan Authority currently operates the power plant, which was commissioned in 1994 through a build-operate-transfer agreement between state-owned National Power Corporation and Enron Corporation. Napocor turned over the plant to SBMA March last year.

“SBMA wishes to lease out on an ‘as is, where is basis,’ the land and the facilities within the Subic Bay Power Plant compound by inviting interested proponents to pre-qualify for the Project,” SBMA said in its invitation to bid.

SBMA did not say when the bidding will take place but it said interested parties should submit their proposals within the month.

Pacifica has also submitted a letter of interest to the Power Sector Assets and Liabilities Management Corp., the government's privatization arm for the power sector, to participate in the bidding for the administrator of the 650 megawatt of the Malaya thermal power plant.

"The company's participation in this bid is another significant decision in line with its purpose to expand business opportunities in power related business," Pacifica said earlier.

Romero said Pacifica is joining the Malaya bidding "because of logistical solution Harbour Center could provide."

PSALM will bid out the contracted capacity of the Malaya thermal power plant located in Pililia, Rizal on June 16. Korea Electric Power Corp. operates the Malaya thermal plant. By JAMES A. LOYOLA - mb.com.ph