Abuja Bureau Chief
ABUJA — A total of 25 prospective
investors have submitted technical and
financial bids for the six electricity
generation companies of the Power
Holding Company of Nigeria, PHCN.
The Federal Government had set a revised
timeline of August 17, 2012 as deadline for
receipt of technical and financial bids from
the potential investors.
The four thermal power generating
companies slated for privatisation are:
Ughelli Power Plc, situated in Delta area in
South-South region of Nigeria with a total
installed capacity of 972 MW; Geregu
Power Plc- situated in Kogi State in North
Central Nigeria with a total installed capacity
of 414 MW;
The others are: Afam Power Plc,
comprising Afam I-V power stations
located in Rivers State, South-South Nigeria
with an installed capacity of 776 MW;
Sapele Power Plc in Sapele, Delta State,
South-South Nigeria with an installed
capacity of 1020 MW.
There are equally two hydro power
generating companies up for sale, namely:
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 at the Shiroro Gorge, Niger State in
North-Central Nigeria.
The next stage of the privatisation exercise,
according to the spokesman of the BPE, Mr.
Chukwuma Nwoko, will be the harvest of
the bidders' technical and financial
proposals for distribution companies. It has
July 31, 2012 as deadline.
The transaction timeline also 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.
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.
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