Financial bids opening for Nigeria’s five power plants

The financial bids opening process for the seven successful bidding firms that scaled the technical evaluation hurdle by the Bureau of Public Enterprises (BPE) is to hold this morning in Abuja.

The seven firms are among the original 25 that submitted bids for the country’s five power generation plants slated for sale under the federal government privatization programme.

The five power plants slated for privatization include those located in Ughelli and Sapele in Delta state; Kainji and Shiroro in Niger state, and Geregu in Kogi state.

Firms that emerged as successful bidders for the Ughelli Power Plant after scaling the technical evaluation hurdle include Phoenix Electricity, Transcorp and Ampiron Power Distribution Limited, while CMEC Energy and GPN Nestoil Power Services Limited were selected as successful bidders for Sapele Power Plant.

Similarly, Ampiron Power Distribution Company got the nod to bid for the Geregu Power Plant, while Mainstream Energy Solution Limited was the preferred bidder for the Kainji Power Plant, and while North South Power Company Limited was successful in the bid for Shiroro Power Plant.

Among the criteria used in evaluating the successful bidders include technical expertise, financial strength and experience.

Though the bid guidelines allowed prospective bidders to submit multiple bids for the plants, they would however not be allowed to win more than one of the bids.

Each of the successful bidders is expected to make submissions for security and other requirements as spelt out by the National Council on Privatization (NCP), which would supervise the financial bids opening process.

For transparency, the financial bid opening would be televised live on major television stations nationwide and we bring you LIVE UPDATES from the event.

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