Fast track power projects initiative: PPIB receives three bids for 964 megawatts of cumulative capacity

Private Power and Infrastructure Board (PPIB) received three bids on Monday for 964 MW of cumulative capacity, translating into around $1.16 billion of investment. This was stated by PPIB Managing Director Fayyaz Elahi in the bid opening ceremony held at PPIB and attended by senior officials of PPIB, WPPO, Nepra and the Ministry of Finance.
A two-envelope approach has been adopted for bidding and the first envelope of the bids containing qualifications ie technical and financial was opened on Monday, while the tariff bids (envelope-II) will be opened after evaluation of qualifications.
The bid opening ceremony is a consequence of the "Fast Track Private Power Projects" initiative of the government of Pakistan and the initial phase of which has already resulted in project solicitations of 780 MW of rentals expected to come on line by year-end and a fast track IPP of 172 MW is expected by mid 2010.
The Managing Director of PPIB said that the IPP fast track projects for 2010 & 2011 are being considered and an encouraging response has been received despite the world-wide economic crunch.
A total of 16 parties procured the request for proposals and three parties, 627 MW Engro PowerGen (Pvt) Ltd at Bhikki near Sheikhupura, 171 MW Saba Power Generation (Pvt) Ltd near Lahore and 166 MW Reshma Power Generation Ltd at Jhang have submitted bids. The qualifying bidders will be issued Letter of Support (LoS) by early March and the IPPs are expected to be commissioned by 2010/11.-PR