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Power Generation Firms: Otedola, Julius Berger Others Submit Bids as Dangote Misses Deadline

By on July 19, 2012

Sources in the Bureau of Public Enterprises (BPE) handling the Power Privatization Exercise have said 25 investors have shown interest in the six power generation companies up for grabs.

Consortium’s who successfully submitted their bids include Femi Otedola and his Chinese partners, and Nest Oil in partnership with Julius Berger.

The thermal power generating companies to be privatized are Ughelli Power Plc, situated in the Delta area in (South-South) with a total installed capacity of 972 MW; Geregu Power Plc in Kogi State (North Central) with an installed capacity of 414 MW; Afam Power Plc comprising Afam I-V power stations in Rivers State (South-South) with an installed capacity of 776 MW; and Sapele Power Plc in Delta State (South-South) with an installed capacity of 1020 MW.

The hydro power generating companies are Kainji Power Plc comprising Kainji Power Plants and Jebba Power Plants located in Niger and Kwara states, respectively in the North-Central; and Shiroro Power Plc located at the Shiroro Gorge, Niger State(North-Central).

Alhaji Aliko Dangote, Chairman of Dangote Group, reportedly missed the deadline to submit his group’s bid.

Contents of Bid submissions included technical and financial plans, as well as a $ 2 million bond.

The BPE says evaluation of the bids will occur between August 14 and August 28 and the National Council of Privatization will select the winners on or berfore September 11, 2012.