The usual asset bidding old-timers are still very much in the list of prospective bidders in the 150-megawatt Bacon-Manito geothermal facilities in the Bicol region.

Those which signified interest in the facilities early on include Energy Development Corporation of the Lopez group; Aboitiz Power Corporation, Trans-Asia Oil and Energy Development Corporation and San Miguel Corporation.

Prior to the deadline on the submission of letters of interest (LOI) last March 26, Aboitiz Power president Erramon I. Aboitiz already apprised media that they are interested to bid for the assets.

SMC president Ramon S. Ang also indicated his company’s desire to participate in the bidding, candidly stating that “sasali tayo sa lahat ng biddings para hindi nila baratin ang gobyerno” (We will join all biddings so they (bidders) will not shortchange government on their price offers); further indicating that the Bacon-Manito plants will be among those they will be keeping their eyes on.

Executives of both EDC and Trans-Asia also hinted of their plans to join the geothermal plants’ auction. Based on the schedule set out by asset seller Power Sector Assets and Liabilities Management Corporation (PSALM), the auction date will be May 5 this year.

As is always the case, PSALM has not given media any names on which ones have submitted LOI; except to say that they have cornered “substantial interests” from prospective bidders in the assets.

The challenge for the winning bidder in the two facilities, as in the many cases of the privatized assets, would be to bring back the plants’ generation efficiency close to their installed capacities so they can help increase supply flow into the grid.

Prospective takers of the geothermal plants are given the floor this week to raise their respective queries and concerns on the assets’ bidding at the scheduled pre-bid conference on April 6.

The divestment of the Bacon-Manito plants is one of the three auctions scheduled by PSALM prior to the May 10 elections. The others are the Angat power plant’s sale and the contract’s privatization for the Ilijan natural gas-fired power facility.

PSALM already crossed the threshold for the generating assets privatization, but its remaining work centers on the appointment of Independent Power Producer Administrators (IPPAs) for the contracted capacities of state-run National Power Corporation.