12 May 2012, Sweetcrude, ABUJA – The Nigerian government has released the final industry and transaction documents to the 152 potential investors interested in the privatisation of the successor companies following from the unbundling of the Power Holding Company of Nigeria (PHCN), the nations’ electricity monopoly.
The bid documents, issued on Friday, were 13 in number, and had been sent to the potential investors.
Among the transaction documents are the share sale agreement, shareholders agreement, performance agreement and concession agreement while the industry documents consist of gas sale and aggregation agreement, gas transportation agreement, bulk power purchase agreement (thermal), bulk power purchase agreement (hydro), vesting contract, transmission use of system agreement, grid connection agreement and ancillary services agreement.
The Bureau of Public Enterprises (BPE) had on March 30, 2012 issued the revised industry and transaction documents to the bidders informing them that the privatisation agency expects to receive all comments on the documents by April 20, 2012.
Following feedback from bidders, a meeting of all industry stakeholders was held in Abuja on May 5 and 6, 2012 to finalise the bidding documents.