Dow Jones reports that Giles Puno of First Gen confirmed their bid was $176 million for Calaca – or $293/kW on the nominal 600 MW plant.
This is more than $100 million below the Government’s reserve price and is only 31% of YNN’s still-pending deal for the similarly sized Masinloc plant which was awarded at $937/kW. Does anyone sense a disconnect?
Meanwhile, McGraw-Hill is reporting First Gen’s feasiblity study on a new 500 MW Luzon gas-fired plant is on-going and they expect a decision in December of this year. They have yet to select a partner.