The DOE is seeking “investor-challengers” in the auction of at least 10 coal blocks in Mindanao covered by the unsolicited proposal of Manila-based Grand Thermal Power Corporation.
The Department of Energy is seeking “investor-challengers” in the auction of at least 10 coal blocks in Mindanao covered by the unsolicited proposal of Manila-based Grand Thermal Power Corporation.
The coal blocks that are up for “bid-matching” are sited in Bislig City and Trento, Agusan del Sur in Mindanao – and these are offered under the precept of the Philippine Conventional Energy Contracting Program which was devised by the outgoing Duterte administration. “The nominating party and challengers must submit their complete application documents at the DOE Records Management Division, and pay the corresponding application fee of P200,000 at the DOE Treasury Division on or before March 15, 2022,” the energy department stated.
The PCECP is a policy of the energy department which allows the nomination of blocks – both for indigenous petroleum and coal resources – and that could be done year-round by interested investors. The key requirement for unsolicited proposals under the contracting round is to subject it to a 60-day challenge.
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