Monday, 14 December 2009

10 companies eyeing geothermal deals

by Alena Mae S. Flores
Manila Standard
http://www.manilastandardtoday.com/insideBusiness.htm?f=2009/december/12/business1.isx&d=/2009/december/12

The Energy Department has pre-qualified 10 local and foreign companies that expressed interest to develop nine geothermal areas up for auction.

“We are presently evaluating their proposals if they comply with the minimum requirement,” Energy Assistant Secretary Mario Marasigan said.

The auction under the department’s energy contracting round requires the submission of legal, technical and financial documents and work program.

The department has pre-qualified Clean Rock Renewable Energy Resources Corp., Pan Pacific Power Corp., Energy Development Corp. and Envent Holding Philippines Inc. to bid for Daklan, Benguet covering 23,639 hectares of geothermal prospects.

Four were pre-qualified to bid for 11,928.72 hectares in Natib, Bataan 1. They are Clean Rock Renewable Energy Resources Corp., Magma Energy Corp., Pan Pacific Power Corp. and Energy Development Corp.

The department will also evaluate the proposals of PNOC Renewables Corp., Energy Development, Aragorn Power and Energy Corp. and Envent Holding Philippines Inc. to explore 9,324.30 hectares in Labo, Camarines Norte.

Marasigan said the department would also evaluate the proposals of lone companies that pre-qualified.

These companies are Primary Energy Corp. for Acupan, Benguet; Constellation Energy Corp. for Montelago, Oriental Mindoro; PNOC Renewables for Isarog, Camarines Sur; Primary Energy Corp. for Sta. Lourdes Tagburos, Puerto Princesa City, Palawan; Energy Development for Mainit, Surigao del Norte; and Petro Energy Resources Corp. for Maibarara in Laguna and Batangas.

The department said it would award the geothermal contract to a proponent receiving the highest point based on the specific criteria set by renewal energy bureau.

It said it would require the winning bidder “to drill one to two exploratory wells at the end of exploration period” and conduct feasibility and appraisal studies leading to power plant development.

The department will review the offers until Jan. 8, 2010 and award the contracts between Jan. 29 and Feb. 12, 2010.

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