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BPE Puts Up Five Power Firms For Sale

BPE Puts Up Five Power Firms For Sale

The Bureau of Public Enterprises (BPE) has called on prospective investors who are interested in purchasing 100 percent shareholding of five power generation companies in the country.

This is coming following an approval granted by the Board of Directors, Niger Delta Power Holding Company (NDPHC) and the National Council on Privatisation for the sale of five generating companies through a competitive bidding process.

It was gathered that the five power generation companies constructed under the National Integrated Power Project, (NIPP) that had been been put up for sale are Geregu Generation Company, Benin (Ihovbor) Generation Company, Calabar Generation Limited, Omotosho Generation Limited and Olorunsogo Generation Company Limited.

The BPE in a notice said the sale was in continuation of the ongoing reforms of the Nigerian Electricity Supply Industry (NESI) and was consistent with the Nigerian Electric Power Policy and Electric Power Sector Reform (EPSR) Act, 2005.

The BPE is asking prospective investors to submit separate Expressions of Interest for each generation company.

The Director-General, BPE, Mr. Alex Okoh, stated, “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 shall be responsible for providing operation, maintenance and management services under a long term agreement.”

About Author

Ife Ogunfuwa is an award-winning reporter who is versed in reporting business and economy, technology, gadgets reviews, telecoms, tax, and business policy review, among others. She loves telling stories behind the numbers. She has professional certifications in business and financial reporting. You can reach her via – [email protected]

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