The Philippines' largest firm, the state-run National Power Corp (NPC), is to tender US$1.5 billion in hydroelectric power projects in November. About 100 foreign and local companies were expected to bid for the 14 projects to be constructed through the build-operate-transfer (BOT) scheme, NPC president Guido Delgado said. The individual 25-year contracts would be awarded in February. The BOT scheme allows the contractor to build the facility, operate it for a specified period to recoup profit and transfer ownership to the state.