30 firms jostle for 10 independent power plants

Power Transmission16 April 2013, Abuja – Managing Director and Chief Executive Officer, Niger Delta Power Holding Company of Nigeria, NDPHCN, Mr. James Olotu, says over 30 companies have shown interest in acquiring 10 National Independent Power Plants, IPPs, it plans to sell.

Olotu said the companies are from various parts of the world and that the government planned to sell off about 80 per cent of its shares in thermal power plants located in different parts of the country.

Jointly owned by the federal, state and local governments, the power companies were set up from 2004 as a special intervention to boost gas-fueled electricity output.

With combined installed capacity at more than 5,000 megawatts, they include the 850-megawatt Alaoji Generation Company near the southeastern city of Aba, the 754-megawatt Olorunsogo Generation Company in the southwest and the 634-megawatt Calabar Generation Company on the southeastern coast.

Nigeria sold as much as 60 percent stakes in 10 electricity distribution and five power generators that were part of the former state monopoly on February 22 under a plan to increase output with private investment.

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