DMCI Power wins bid for Palawan plant
MANILA, Philippines - Consunji-led DMCI Power Corp. on Wednesday said it won the bid for a 25-MW power plant in Palawan.
In a disclosure to the stock exchange, DMCI Holdings said its power unit was the lowest bidder for the Palawan Electric Cooperative (PALECO) plant. It had a true cost generation rate (TCGR) of P9.38.
Earlier, DMCI Power said it is participating in the planned privatization of 12 areas under the Small Power Utilities Group (SPUG) being offered by the National Power Corp.
The SPUG, which is the Napocor's missionary electrification arm, provides electricity to remote islands and areas in the country.
The SPUG areas in Palawan and Mindoro were the first to be bidded out. Other SPUG areas include Catanduanes, Romblon, Tablas, Siquijor, Sulu, Tawi-Tawi and Basilan.