13 Consortia Meets Deadline for power firms

Sources at the Bureau of Public Enterprises, said 13 consortia succeeded in making payment for the remaining 75% balance of the bid prices for the 15 successor companies of the Power Holding Company of Nigeria before 5pm deadline yesterday and are set to take over the firms.

The successful consortia are: West Power and Gas, the preferred bidder for the Eko Distribution Company; NEDC/KEPCO, Ikeja Distribution Company; 4Power Consortium, Port Harcourt Distribution Company; Vigeo Consortium, Benin Distribution Company; Aura Energy, Jos Distribution Company; and Kann Consortium, Abuja Distribution Company.

Others who met the payment deadline, according to the source, are: Integrated Energy Distribution and Marketing Company, the preferred bidder for both the Ibadan and Yola Distribution Companies; Sahelian Power, Kano Distribution Company; Transcorp/Woodrock Consortium, Ughelli Power Plc; Amperion, Geregu Power Plc; Mainstream Energy Limited, Kainji Power Plc; and CMEC/EUAFRIC Energy JV, which made part-payment for the acquisition of Sapele Power Plc.

However, two of the intending investors failed to pay the balance as scheduled, they are: Interstate Electrics consortium, the preferred bidder for the Enugu Distribution Company, whose members include Chief Emeka Offor’s Chrome Energy, Power House International Limited and Metropolitan Electricity Authority of Thailand; and North-South Power Company, the preferred bidder for the Shiroro Power Plc.