Ayala to bid for green energy projects

September 2, 2012 by  
Filed under Green Energy News

Ayala to bid for green energy projects


Published on Monday, 03 September 2012 00:00

By A Web design Company

Ayala Corp. will bid for the power contracts to be auctioned off  by the Power Sector Assets and Liabilities Management Corp. (PSALM) as it expand its energy portfolio.

Eric Francia, Ayala managing director and group head for corporate strategy and development, said the company will bid to manage the contracted capacities of the 640-megawatt Unified Leyte geothermal facilities and the 150-MW Casecnan hydropower plant.

PSALM is scheduled to conduct sometime by the fourth quarter of this year the bidding of the IPPA contracts for the geothermal facilities and the hydropower plant.

Francia stressed that no firm plans have been made yet on whether Ayala will participate in the government biddings by itself alone or with a partner.

Francia has earlier said that Ayala is planning to invest $2.5 billion to build a portfolio of power projects with a capacity of as much as 1,000 megawatts over the next five years.

For its power projects, Ayala is inclined to venture into renewable energy projects, particularly hydro.

Ayala said it is also looking to invest up to $1 billion over the next five years in the transport infrastructure and power generation sectors.

PSALM, meanwhile, is targeting to sell the IPPA contracts this year to cover for the agency’s expected P85-billion deficit.

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