THE holding firm for the power gene-ration and distribution assets of Cebu-based Aboitiz family is still very keen on acquiring a pair of coal-fired power plants after failing alongside San Miguel Corp.’s (SMC) energy unit in a bidding exercise in June.

At the sidelines of a lunch briefing for select business reporters, Aboitiz Power Corp. senior vice president Luis Miguel Aboitiz said the firm is still very interested in rebidding for the Pagbilao and Sual power plants located in the provinces of  Quezon and Pangasinan, respectively.

“Outbidding our [rivals] is what we’re going to try to do. We’re still interested in [Sual and Pagbilao]. Definitely,” said Aboitiz.

An official of the Power Sector Assets and Liabilities Management Corp. (Psalm) familiar with the matter said the second invitation to bid will be posted on its website before Friday.

In its first bidding exercise on June 26, Psalm rejected both offerings by San Miguel Energy Corp. (Smec), the energy firm of diversified conglomerate SMC, and Therma Luzon Inc., a unit of Aboitiz Power Corp.

According to Psalm, the offers for the contracted capacities of 1,000-megawatt (MW) Sual and 700-MW Pagbilao plants came short of the reserve price. The bids and awards committee, however, did not disclose details.

“We can’t disclose the floor price, that is the point of bidding,” said the Psalm official. The source added, however, that should the second bidding process fail, it will enter into direct negotiations with the firms, but did not elaborate on this process.

Psalm said both firms passed the technical and financial requirements set by the agency’s bids and awards committee.

In June, Smec outbid its only competitor in the Sual facility after offering $1 billon while Aboitiz submitted $812.9 million. By contrast, the Aboitiz firm submitted $648.9 million for the Pagbilao plant, topping Smec’s offer of $590 million.

“Both firms just failed to meet the floor price for contracted capacity,” said the Psalm official, adding that if the upcoming bidding succeeds, the winning firm can take ownership of the Sual and Pagbilao coal plants by 2024 and 2025, respectively.

Psalm said the  1,700-MW aggregate contracted capacities of the two power plants represent around 34.7 percent of the total capacity of the contracts of independent power producers (IPP) for Luzon and the Visayas.

Psalm is also set to implement the next selection process, which will involve the IPP contracts of the Casecnan, Bakun and San Roque hydropower plants. The contracted capacities of these three power facilities are 140MW, 70MW, and 95 MW, respectively.

In a related development, APC relaunched its brand and logo in line with the firm’s growing direction in renewable and sustainable energy. APC also unveiled a new campaign for clean energy for customers.