Owners of 10 power plants, including benin, emerge

The National Council on Privatization (NCP) Technical Committee Chairman, Mr. Peterside Atedo, yesterday in Abuja presided over the the financial bid opening for the 10 power plants of the Niger Delta Power Holding Company (NDPHC).

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The plants which are the National Integrated Power Project (NIPP) are jointly owned by the three tiers of government.

Of all the firms that offered to buy 80% equity of the plants, AITEO Consortium, the only bidder for Alaoji Generation Company Limited won the bid with $902million.

They firm had earlier offered $680million for the generation firm, which, according to Atedo, was below the reserved price. However, upon a second chance, AITEO jacked up its bid for the power plant to $902million, which the chairman said was above the reserve price.

Meanwhile, EMA Consortium won the bid for Benin Generation Company  Limited with $580million and defeated the  reserved bidder Index Consortium, which offered  $575million for the same generation plant.

With an offer of $625million, EMA Consortium also defeated the reserved bidder Nebula Power Generation Consortium that bid $623,750,000 for  Calabar Generation Company Limited.

In the case of Egbema Generation Company Limited, Dozzy Integrated Power Limited emerged the winner with a bid of $415,075,000 while the reserved bidder, AITEO bided $392million.

Gbarian Generation Company Limited got KDI Energy Resources that offered $340million as winner with Azikel Power Limited which offered $305 as its reserved bidder.

Meanwhile, Seoul Electric Power Limited won the bid for Geregu Generation Company Limited with $690million, while Yellow Stone emerged the reserved bidder with $613million.

The preferred bidder for Ogorode Generation Company Limited was Daniel Powe Cnsortium which offered $531,777,777 to defeat three others that failed to cross the reserved price.

With $751,240,000, ENL Consortium Limited won the bid for Olurunsogo Generation Company as Index Consortium emerged the reserved bidder with &730million. AITEO, however, withdrew from the bid and lost its chances and entry funds.

The bid for Omoku Generation Company Limited was won by Shayobe International Consortium  that offered $318,710,840 to floor the reserved bidder- AITEO Consortium that offered $312,500,000.

Of the nine companies that offered to purchase Omotosho Generation Company Limited, Omotosho Electric Power Limited won the bid with $659,999,000. The reserved bidder ENL Consortium had offered $659,999,000 for the same generation company.

Speaking, the Minister of State for Power, Alhaji Mohammed Wakil, noted that the ministry would accord the sector the necessary support it requires.

According to the Managing Director, NDPHC, Mr. James Olotu, the 10 power plants are to offer Nigerians the best they deserve in order to grow the economy and reduce hardships of the citizenry. (0)

Owners of 10 power plants, including benin, emerge