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Thursday, March 23, 2006
Veco looks for investors to build, run power supply plant in 2010
The Visayan Electric Co. Inc. (Veco) has been soliciting bids for a 200-megawatt new capacity power generation plant.
Veco said the project will be established under the build-operate-maintain scheme and the power plant must be capable of operating on baseload mode.
“They (investors) can propose any technology, fuel mix or plant configuration that would meet Veco’s requirements. The plant shall have a gross capacity of 100 megawatts by Jan. 1, 2010 and an additional gross capacity of 100 megawatt by Jan. 1, 2011,” the utility firm said in a statement.
The supply contract between the winning bidder and Veco will have a term of 25 years.
The operation of a new capacity generation plant would help stabilize the power supply situation in areas serviced by Veco.
Long-term
Veco said the power generation plant must be located within Cebu island “to ensure the long-term reliability and supply of electric power” to its costumers at reasonable rates.
After the investor registration deadline, four firms have expressed interest in the project. These were Mirant Global Corp., Kepco-Salcon Power Corp., Applied Research Technologies Philippines Inc. and Pacific Manufacturing Resources.
Sealed bid
Veco said interested investors will be required to comply with sealed bid auction procedures. The bidding will be held on June 5.
Veco’s franchise area covers a total of 672 square kilometers with over 295,000 households or an estimated population of over 1.5 million.
By year 2010, Veco predicts power demand for its franchise area will go up to about 354 megawatts, which is why it needs additional supply.
Veco distributes power in Metro Cebu and neighboring municipalities.(LAP)
For Bisaya stories from Cebu. Click here. (March 23, 2006 issue)
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