Privatization: BPE Shortlists 16 Power Companies To Bid For 5 NIPP Plants

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Bureau of Public Enterprise (BPE) has shortlisted 16 energy companies who qualified to bid for five National Integrated Power Project (NIPP) plants located in different parts of Nigeria.

The five plants are Geregu Power Plc in Kogi, Omotosho Power Plant in Ondo, Olorunsogo Plant in Ogun, Calabar Power Plant in Cross-River, and Ihovbor Power Plant in Benin, Edo state.

According to a statement issued by the Head of Public Communications, BPE, Mr. Chidi Ibeh in Abuja on Thursday, the 16 power companies that pre-qualified include: Mota-Engil Nig, Amperion Power, Sifax Energy, Pacific Energy Company Ltd, Globeleq Africa Ltd, Geoplex Drillteq Ltd, Asfalizo Acquisition Ltd, Launderhill PJB, Lauderhill Tata, Unicorn Power Genco Ltd, and Connaught Energy Services Ltd.

Others are ENL Consortium Ltd, Ardova Plc, Central Electric and Utilities Ltd, North South Power Consortium and Quantum Megawatt Consortium.

Commenting on the power sector, Director-General of BPE, Mr Alex Okoh stated that low per-capital Megawatts recorded in the country gives the sector feasibility for investment.

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He noted that the generation aspect of the power sector has made clear vast opportunities embedded in it, from the interest shown by the bidding companies.

He, however, affirmed that the bureau and other relevant stakeholders are committed to making the sector sustainable.

During investor pre-bid conference for the privatisation of the five NIPP plants, Mr Okoh said the objectives of the conference was to discuss possible questions from the shortlisted bidders about the transactions and provide clarity on any issue in the transaction documents.

The director-general said that the forum would also highlight the potential of the Nigerian power sector.

He added “It will also provide a platform for potential investors to understand the process for the privatisation of the NIPP power plants, as well as to enable them adequately prepare their bid documents.

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“This event is a continuation of the Federal Government’s reform of the power sector to ensure that assets within the sector are fully utilised and transformed into world-class facilities.

“This will be achieved through the injection of private sector capital and deployment of more efficient and technical capacity.”

Mr Okoh recalled that the National Council on Privatisation (NCP) had in April 2021 approved the adoption of a fast-track strategy for the privatisation of the five NIPP plants.

“Council also approved the engagement of CPCS Consortium as the Technical Adviser for the 100 per cent sale of the five NIPP plants, in line with the policy of divesting government shares from thermal generating plants.

“Subsequently, the bureau advertised in three national dailies (This day, Business Day and Daily Trust Newspapers), and an online news platform (The Cable) on Thursday, May 6, 2021.

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“The advertisement called for Expressions of Interest (EOI) from prospective investors for the sale of the five NIPP power plants, with a submission deadline of Wednesday, June 30, 2021.

“At the expiration of the deadline for the submission of EOIs, 36 EOIs were duly submitted from the prospective investors.

“The closure for the receipt of the EOIs was witnessed by the representatives of the Department of State Security Services, Anti-corruption and Transparency/Servicom Unit (ACTSU) of the bureau.’’

Patience Leonard, PBA Journalism Mentee
Patience Leonard, PBA Journalism Mentee
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