Five firms on Tuesday emerged bid winners, offering a total sum of N107bn for five electricity generation companies.
The bid winners are Transnational Corporation of Nigeria (Plc), Amperion Consortium, CMEC/Eurafric Energy Consortium, Mainstream Energy Solutions Limited and North-South Power Company Limited.
At the financial bids’ opening conducted in Abuja by the National Council on Privatisation, Transcorp emerged the preferred bidder for the Ugheli thermal power plant with an offer of $300m to beat its closest rival, Amperion, which offered $252m.
The former Managing Director, United Bank for Africa Plc, Mr. Tony Elumelu, is the chairman of Transcorp, with his Heirs Holdings having substantial equity in the conglomerate.
Amperion Consortium, however, matched the reserve bid price of $132m for the 414 megawatts Geregu power plant, though it initially offered $128.52m as the sole bidder for the plant.
The consortium is made up of Israeli-based BSG Resource Limited, State Grid Corporation of China and Forte Oil Plc, in which billionaire businessman, Mr. Femi Otedola, is the major stakeholder.
For the Sapele thermal power plant, CMEC/Eurafric Energy Consortium emerged the preferred bidder with an offer of $201m.
Mainstream Energy Solutions Limited, which was the sole bidder for the Kainji hydro plant, was designated the preferred bidder since its offer of $50.76m met the reserved fixed annual fee. However, the plant will not be sold outright but will be given out on a 15-year concession with the bid winner paying a commencement fee of $257m before the deal can be sealed.
Similarly, North-South Power Company Limited, which is linked to the former dictator, Gen. Ibrahim Babangida, emerged the preferred bidder for the Shiroro hydro power plant with a sole bid of $23.6m annually for a 15-year concession. The company will, however, pay a commencement fee of $111.65m to close the deal.
However, the bid for the Afam power plant was not opened as all the three bidders failed to meet the stipulated guidelines, according to the Chairman, Technical Committee, NCP, Mr. Atedo Peterside, who supervised the opening of the bids.
The Ugheli plant is situated in Delta State and has an installed capacity of 972 megawatts.
Source: PUNCH News
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