Nigeria’s Zungeru Power Plant At 87% Completion – BPE

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The Bureau of Public Enterprise (BPE) says the Zungeru Hydroelectric Plant project in Nigeria is at 87 percent completion and is scheduled to be operational by December 2021.

The agency in a tender notice on its website on Wednesday said it was seeking technical advisors that would work with it and the National Council of Privatisation (NCP) for the concession of the power plant located in Kaduna.

It said the project, which will be the second biggest hydroelectric dam in Nigeria after the 760 MW Kainji hydropower dam, is designed to generate 2630 GWh/year, equivalent to around 10 per cent of the country’s supply requirements on completion.

 In addition to electricity generation, the project will also provide flood control, irrigation and water supply, the bureau added.

It said, “In furtherance of its programmes aimed at boosting electricity service provision in the country through the direct participation of the private sector the Federal Government of Nigeria, through the National Council on Privatisation (NCP) and the Bureau of Public Enterprises (BPE), hereby invites Expressions of Interest.”

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The successful technical advisers, according to BPE, will provide transaction advisory services for the process of concession and evaluate the present status of the operating company and the activities necessary to prepare it for the subsequent concession transaction.

It said the transaction advisor would be required to review all relevant laws, regulations, policies that could impact the successful concession of the enterprise and develop strategies that would attract interest from international investors.

BPE said the successful bidders would be expected to develop detailed concession plans for the enterprise, conduct the marketing and bidding processes necessary for maximising private sector participation and develop post-concession exit strategy options for the enterprise.

“Interested advisors should indicate their interest by providing detailed profile of the company or group indicating full name of the company and the contact person, postal address, telephone number, and e-mail address, ownership structure including brief profile of significant shareholders, evidence of registration with relevant authorities, proof of capabilities in carrying out the concession of a large hydroelectric power plant indicating number of years of experience and list of relevant transactions handled,” it explained.

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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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