FG names preferred bidders for seven power plants

The Federal Government has named successful bidders for seven out of the 10 power plants built under the National Integration Power Projects by the Niger Delta Power Holding Company of Nigeria Limited.
The government is targeting to rake in $4.253 billion from the sales at the end of the exercise.

Delta State Governor, Dr. Emmanuel Uduaghan, disclosed this to State House correspondents at the end of the fourth joint meeting of the NDPHC and the National Council on Privatisation presided over by Vice President Namadi Sambo at the presidential villa.

The financial bids ratified at the meeting, listed EMA Consortium as the preferred bidder for Benin Generation Company with $580 million with Index Consortium emerging reserved bidder with its offer of $575 million.

EMA Consortium also won the bid for Calabar Generation Company with $625 million and Nebula Power Generation Consortium as the reserved bidder with $623.75 million.
For Egbema Generation Company, Dozzy Integrated Power Limited emerged winner with $415.075 million while AITECO Consortium emerged reserved bidder with $392 million.

Seoul Electric Power Limited won the bid for Geregu Generation Company with its $690.2milliin bid while YellowStone Electric Limited emerged reserved bidder with $613.11million.
For Ogorode Generation Company, Daniel Power Consortium was named winner with $531.777million and ESOP Power Limited reserved bidder with $510 million.

ENL Consortium won the bid for Olorunsogo Generation Company with $751.240 million and Index Consortium reserved bidder with $730million.

Omotosho Electric Power won the bid for Omotosho Generation Company with $659.999 million and ENL Consortium emerged the reserved bidder with $645.156million.
In all, Uduaghan put the optimal sales value (preferred bids) of the plants at $4.253 billion and the least sales value (reserved bids) at $4.089 billion.

Minister of Power, Prof. Chinedu Nebo, in his remarks, said winners could not be announced for the remaining three power plants because a bidder, Ethiope Energy Limited, has dragged the Federal Government to court on the matter.
The three affected plants are Alaoji, Omoku and Gbarain.