Nigerian Government auctions 5 electricity generating assets

The Bureau of Public Enterprises (BPE) is seeking for prospective investors to express interest in purchasing 100 per cent shareholding in any of the five power generation companies constructed under National Integrated Power Project (NIPP) listed for sale.

It said this in a document signed by the Director-General, Mr Alex Okoh, and made available to the media on Sunday.

The Agency explained that it was in continuation of the ongoing reforms of the Nigerian Electricity Supply Industry and consistent with the Nigerian Electric Power Policy and Electric Power Sector Reform (EPSR) Act, 2005, noting that the Board of Directors of Niger Delta Power Holding Company (NDPHC) and the National Council on Privatisation had approved the sale of the five companies through a competitive bidding process.

The assets are located in Kogi, Edo, Cross River, Ondo and Ogun.

It listed the five in-service generation plants to be Geregu Generation Company Ltd with gross installed capacity at ISO condition of 506 Megawatts (MW) and Benin (Ihovbor) Generation Company Ltd with 507 MW.

Others are Calabar Generation Ltd with 634MW, Omotosho Generation Ltd with 513MW and Olorunsogo Generation Company Ltd with 754MW.

According to the document, prospective investors are expected to submit separate Expressions of Interest (EoI) for each generation company.

“Each bidder must be an experienced power generation company that owns and/or operates utility size power plants.

“In case of a consortium, at least one of the consortium members must be an experienced power generation company (the “Technical Partner”).

“The technical partner shall be responsible for providing operation, maintenance and management services under a long term agreement.”

The Agency had during its 2021 budget defence at the National Assembly, disclosed plans by the Federal Government to sell some generation companies.

 

Source: Oriental News

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