ISLAMABAD (APP) - Private Power and Infrastructure Board (PPIB) on Monday received 10 bids for 1,191 MW of cumulative capacity, translating to around US$ 1.42 billion of investment. The first envelope of the bids containing qualifications like technical and financial was opened, while the tariff bids (envelope-II) will be opened after evaluation of qualifications. Addressing the bid opening ceremony, Managing Director PPIB Fayyaz Elahi said fast track private power projects' initiative of the government has resulted in project solicitations of 780 MW of rentals expected to come on line by end 2009, and a fast track IPP of 172 MW expected by mid 2010, while another three IPP proposals of 964 MW are under evaluation which are expected to be commissioned in 2010/11. He said fast track rental power projects for 2009 are being considered which will hopefully be the last exercise for soliciting rental projects under the current fast track initiatives so as to plug the current supply demand gap. He said a healthy response has been received, despite the worldwide economic crunch and a total of 15 parties procured the Request for Proposals (RFP) and 10 parties have submitted bids which include 57.81 MW premier energy proposed at Pasrur, 110 MW coal fired New Park energy proposed near Nooriabad, 170 MW Ruba Energy proposed at Batapur near Lahore, 73.92 MW Tapal Group Project proposed at Kamoki, 220 MW Reshma Power proposed at Narwala near Faisalabad, 100 MW Trimax Power proposed near Chakwal, 85 MW Sialkot Rental Power proposed at Sialkot, 170 MW MHK Energy proposed near Gujrat, 138 MW Radian Energy proposed at Pasrur, and 66 MW Grid Power Generation proposed at Mirpur Khas. He said the qualifying bidders are expected to be issued Letters of Award (LOA) by end March, 2009, and the projects are expected to be commissioned by end 2009. The bid opening ceremony was also attended by senior officials of PPIB, WPPO, NEPRA and Ministry of Finance.