MANILA - The Aboitiz Group will start to market power generated by the 700-megawatt Pagbilao coal-fired facility in Quezon province.

According to Aboitiz Power Corp. President and Chief Executive Officer Erramon Aboitiz, the company wants to tap the Manila Electric Co. (Meralco) for an additional supply agreement.

"We're talking to different industries and electric cooperatives, and maybe we'll offer more to Meralco. We'll look around," Aboitiz said.

In an auction last week, Therma Luzon Inc., a unit of Aboitiz Power, clinched the independent power producer administrator (IPPA) contract for the Pagbilao power plant, with an offer of $691 million.

Aboitiz said Therma Luzon would not need to raise the entire $691 bid offer. On top of a performance bond of $38 million, he said the Aboitiz Power unit will have to pay privatization agency Power Sector Assets and Liabilities Management Corp. a monthly amortization of $42 million.

Meanwhile, Aboitiz said the group is likely to bid for more Napocor contracts in the future. "We're still looking at the different hydros, so Angat and the different IPPAs. San Roque, Casecnan, and Bakun," he said.

He added that they are also eyeing to bid for power barges. "We are also looking at the power barges in Mindanao. It's very necessary."