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Nigeria to divest from five power generation firms, calls for EOI from investors

By on May 3, 2021 0 143 Views

Nigeria is offering for sales five five power generation companies under the National Integrated Power Project (NIPP) with the Bureau of Public Enterprises (BPE) calling for expression interest from prospective investors.

In a document signed by the BPE Director-General, Alex Okoh, he said the sale was part of the ongoing reforms of the Nigerian Electricity Supply Industry and consistent with the Nigerian Electric Power Policy and Electric Power Sector Reform (EPSR) Act, 2005.

According to the BPE, the Board of Directors of Niger Delta Power Holding Company (NDPHC) and the National Council on Privatisation have approved the sale of the five companies through a competitive bidding process.

The listed power generation firms for sales including the  Geregu Generation Company Ltd with installed capacity at ISO condition of 506 Megawatts (MW) and Benin (Ihovbor) Generation Company Ltd with 507 MW.

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Others are Calabar Generation Ltd with 634MW, Omotosho Generation Ltd with 513MW and Olorunsogo Generation Company Ltd with 754MW.

Prospective investors are expected to submit separate Expressions of Interest (EoI) for each generation company.

“Each bidder must be an experienced power generation company that owns and/or operates utility size power plants.

“In case of a consortium, at least one of the consortium members must be an experienced power generation company (the “Technical Partner”).

“The technical partner shall be responsible for providing operation, maintenance and management services under a long-term agreement.”

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