In an interview here, SN Power vice president Erik Knive disclosed that the companies invited to submit offers are: Voith Siemens Hydro, VA Tech and Alstom.

"We hope to select the winning bid for electromechanical specifications by May, and we are also working on sending invitations to bid for civil engineering procurement starting April," the executive of the Norwegian power firm indicated.

The electro-mechanical specifications, it was explained, will in part cover the supply of equipment for the facility’s expansion; while civil engineering works would include rehabilitation of the dams.

The Singapore regional office of Norway’s SN Power (Statkraft Norfund Power Invest AS) was set up to oversee the various projects and acquisitions it has been pursuing in East Asia to include the Philippines, Malaysia, Vietnam and Laos; as well as those in Nepal and Indiag.

Mr. Knive said the planned expansion for the Ambuklao plant will be 90 to 100 megawatts; while Binga’s capacity shall be shored up by 100 to 125 MW. The aggregate installed of the capacity of the two plants is currently at 175MW.

The company noted that it is also doing a lot of pencil-pushing on potential increase in the project’s total cost, as compared two to three years ago.

Studies indicate that the cost of putting up hydropower facilities at present would now cost project developers about $ 1.5 to $ 2.0 million per megawatt.

The SNAP group has been officially declared the winning bidder by the Power Sector Assets and Liabilities Management Corporation (PSALM) in the assets’ privatization last November. The purchase offer was $ 325 million.

"We hope to complete the expansion projects in three years," the SN Power executive said; adding that these are being packaged on a merchant basis.