One of the most important milestone in the history of power in Nigeria was reached today after winners and reserve bidders were shortlisted for the purchase of the 6 major power generating plants in Nigeria. This milestone is one that is sure to produce the next engineers of economic development in Nigeria similar to the revolution we witnessed in the telecom sector. So who won?
A consortium including Transcorp and Wood Rock/Symbion Power/Medea/PSL/Thomasen was the highest bidder for the Ughelli Power company with $300m beating Feniks Electricity and Amperion Power DistributionLtd, offering, while a group including Forte Oil with a bid of $132million won the bid for Geregu Power plant.
A consortium made up of Nigerian, Chinese and British companies bid $201million and won the bid to buy the Sapele Power Firm.
Mainstream Energy, a group including Russian firm RusHydro and several Nigerian companies won a contract to manage the Kainji Power company and North-South Power, won a similar contract on Shiroro Power. Note that Mainstream and North-South had no competitors for their bids.
A re tendering is being made for who will run the Afam power plant, after the Power Minister Barth Nnaji resigned last month after it was revealed he had a stake in one of the consortiums bidding for the asset.