Buhari Govt To Sell Five Power Generating Companies

TrackNews Online reports that this was made known by the BPE in a document signed by the Director-General, Alex Okoh, and made available to newsmen.

The BPE asked investors to bid for the 100 percent shareholding of the government in any of the companies.

The document said 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.

It also disclosed 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 companies constructed under the NIPP 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.

“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.”