A Review of the Nigerian Energy Industry

BPE lists 25 bidders for power generating companies

Oscarline Onwuemenyi

23 July 2012, Sweetcrude, ABUJA – A breakdown of the 25 bidders that met the July 17, 2012 deadline for submission of technical and financial proposals for the privatisation of the generation companies has been released by the Bureau of Public Enterprises (BPE.)

A statement signed by Head, Public Communications of the BPE, Mr. Chukwuma Nwokoh, showed that Ughelli Power Plc had the most bidders, with nine potential investors meeting the deadline; Sapele Power Plc was next with six bidders and Shiroro Power Plc had the least number of bidders with one potential investor. Geregu Power Plc has four bidders; Afam Power Plc has three potential investors; and Kainji Power Plc has two bidders.

The bidders for Ughelli Power Plc are Feniks Electricity; NPG Consortium; Delta Utility Company Ltd; Transcorp & Woodrock/Symbion Power/Medea/PSL/Thomasen; and Botad/GE/13M Power Consortium. Others are Danglobe Consortium; Amperion Power Distribution Company; Ethiope Energy and Taleveras Group.

Foby Energy; Proton Energy Consortium; Ogorode Power Ltd; CMEC/Eurafric Energy Ltd; Dateline Power; and JBN/Nestoil Power Services Ltd are the bidders for Sapele Power Plc.

The four bidders for Geregu Power Plc are Knox J & L Energy Solutions Ltd; Plainfield Universal Technologies; TES Power Ltd; and Amperion Power Distribution Company Ltd.

For Afam Power Plc, the bidders are Primeniza Energy Ltd; Skipper Nigeria Ltd; and NPG Consortium.

The two bidders for Kainji Power Plc are Marubeni Corporation and Mainstream Energy Solutions Ltd.

The sole bidder for Shiroro Power Plc is North-South Power Co. Ltd.
“It would be recalled that the revised timeline had July 17, 2012 as deadline for receipt of technical and financial bids from the potential investors,” the statement noted.

The thermal power generating companies slated for privatisation include
Ughelli Power Plc – situated in Delta area in South-South region of Nigeria with a total installed capacity of 972 MW, and Geregu Power Plc- situated in Kogi State in North Central Nigeria with a total installed capacity of 414 MW.

Others are Afam Power Plc comprising of Afam I-V power stations located in Rivers State in South-South Nigeria with an installed capacity of 776 MW; and Sapele Power Plc located in Sapele, Delta State in South-South Nigeria with an installed capacity of 1020 MW.

The hydro power generating companies are: Kainji Power Plc comprising Kainji Power Plants and Jebba Power Plants located in Niger and Kwara States respectively in North-Central Nigeria; and Shiroro Power Plc located at the Shiroro Gorge, Niger State in North-Central Nigeria.

The statement noted that potential bidders/concessionaires for the generating companies, who should be existing local and/or international power generators or investors with power generators as long-term technical partners, will be responsible for operating the stations, improving the generation capacity and making the necessary investments in line with the objectives of the Federal Government of Nigeria set out in the National Electric Power Policy (NEPP.)

The next stage of the privatisation exercise is the harvest of the bidders’ technical and financial proposals which has July 31, 2012 as deadline for distribution companies.

Also, according to the BPE, the transaction timeline reveals that the evaluation of the technical bids will take place between August 14 and 28, 2012. The National Council on Privatisation (NCP) will approve the results of the technical evaluation on/or before September 11, 2012.

“The deadline for the shortlisted bidders for generation companies to submit their letters of credit is September 18, 2012 while October 2, 2012 is for shortlisted bidders for distribution companies.

“Consequently, NCP’s approval will pave way for the opening of financial bids of the shortlisted investors. The BPE will, between September 25, 2012 and October 10, 2012, open the financial bids of prospective investors for the privatisation of the successor companies created from the Power Holding Company of Nigeria (PHCN.),” the statement added.

Furthermore, the announcement of the preferred bidder for the 17 successor companies by the National Council on Privatisation (NCP) will be made on/or before October 23, 2012.

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