Philippines power plant sale attracts local and OS investors

MANILA, Mar 25, 2008 (Asia In Focus via COMTEX) -- PNOEF | news | PowerRating | PR Charts -- Nine out of the 10 potential investor groups have submitted to the Power Sector Assets and Liabilities Management Corporation (PSALM) their respective expressions of interest for the slated June 4 bidding of the 747-megawatt (MW) Tiwi-MakBan geothermal power complex. In a statement, PSALM said five of the nine investors group are from the Philippines, two from Europe, one from North America and one from the Asia Pacific region.

* Formerly government-owned geothermal power producer PNOC ENERGY DEVELOPMENT CORP. (PNOC-EDC), which is currently being controlled by the LOPEZ GROUP, has expressed its interest to bid for the Tiwi-Makban power complex.

* According to PSALM, two of the nine interested groups that submitted their letter of intentions to join the bidding and paid the participation fee previously joined the first bidding of the Tiwi-Makban plant in 2005.

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