Psalm, the privatisation agency, said ICS had bid US$230,000 for the 0.8MW plant. Amlan is located in Negros Oriental province and has two 400kW units. It was originally designed as a base-load facility.

The auction was originally run in the middle of last year but only one bid was received – from Sta Clara International Corp, which previously bought the 1.2MW Loboc plant. Five companies had initially expressed interest in the auction.

Psalm relaunched the auction with companies to register interest in September and bid in December. However, it did not state how many bids were received in the second attempt to sell the plant – only that ICS’ offer exceeded the reserve price.

ICE is a recently formed Filipino-owned firm that specializes in renewable energy.