First Private Power Corporation (FPPC) /
Bauang Private Power Corporation (BPPC)
3rd Floor Benpres Building
Meralco Ave. Pasig City
Telephone: +63 (2) 449-6400 Fax:
Email:
Website: www.bppc.com.ph

First Private Power Corporation (FPPC) was incorporated in October 1992 for the sole purpose of engaging in power generation as an independent power producer. As part of the government's fast track program to stabilize the power industry, FPPC won a tender in December 1992 sponsored by the National Power Corporation (NPC) to provide a 195-MW generating plant under a Build-Operate-Transfer (BOT) Agreement. The BOT Agreement between FPPC and NPC was signed on 11 January 1993.

Under the BOT Agreement, FPPC is to design, build, and operate the plant for 15-year Cooperation Period and sell electricity to NPC. At the end of the Cooperation Period, FPPC will transfer ownership of the power plant at no cost to NPC. FPPC then incorporated BPPC as its subsidiary for the purpose of constructing and operating the power plant. BPPC assumed FPPC's rights and obligations under the BOT Agreement pursuant to an Accession Agreement dated 15 March 1993. In January 1994, NPC, FPPC, and BPPC signed a Memorandum of Understanding revising some of the terms of the BOT Agreement which includes the increase of Contracted Capacity to 215 MW from 195 MW.

In July 1994, construction of the Bauang Plant was completed with the first engine fired on 18 July 1994 and formally launched the entry of the plant into the Luzon grid. By January 1995, the Bauang Plant was able to attain its 215 MW Contracted Capacity. The start of the Cooperation Period was established on 25 July 1995 with turnover of the plant to NPC set on 25 July 2010 as the end of the Cooperation Period.