Pacifica to bid for administration of Malaya plant

Pacifica, Inc. is bidding for a government contract to manage the 650-megawatt (MW) Malaya Thermal Power Plant in Pililia, Rizal, as part of a plan to expand into the power industry. "The company’s participation in this bid is another significant decision in line with its purpose to expand… into power-related activities," the listed firm told the Philippine Stock Exchange on Tuesday. Pacifica said it had submitted a letter of interest to the Power Sector Assets and Liabilities Management Corp. (PSALM) — the agency tasked to manage the privatization of state power plants — which put the independent power producer administrator contract for Malaya on the auction block last week. Parties have until June 16 to submit their bids. Pacifica earlier said it was keen on acquiring administration contracts for the Unified Leyte Geothermal Complex, which consists of the 125-megawatt Upper Mahiao, 232-MW Malitbog, 180-MW Mahanagdong and 51-MW optimization plants. Bidding for the administration of Unified Leyte, Malaya and Ilijan power plant in Batangas City is the third batch of contracts to be offered for private sector management. Independent power producers are tasked to supply electricity to the state-run National Power Corp. Last December, Pacifica also bid for the administration contracts for the 30-MW Benguet mini-hydropower plant, 345-MW San Roque multipurpose hydroelectric power plant in Pangasinan and the 70-MW Bakun hydroelectric power plant in Ilocos Sur. It also bid for the Ilijan plant early this month. The company, however, failed to match the bids of the other bidders. Pacifica was incorporated on September 2, 1957 to explore, drill and exploit oil, gas and other volatile substances. A decade ago, the regulator allowed its conversion into a holding company. But funding constraints prevented its management from investing in build-operate-transfer projects, real estate and bioethanol ventures. Pacifica shares, which has yet to start commercial operations, was steady at seven centavos on Tuesday. — N.P. Aquino, GMANews.TV