25 investors bid for PHCN power generationcoys

ABUJA — A total of 25 prospective investors have
submitted technical and financial bids for the six
electricity generation companies of the Power
Holding Company of Nigeria, PHCN.
The Federal Government had set a revised timeline
of August 17, 2012 as deadline for receipt of
technical and financial bids from the potential
investors.
The four thermal power generating companies
slated for privatisation are: Ughelli Power Plc,
situated in Delta area in South-South region of
Nigeria with a total installed capacity of 972 MW;
Geregu Power Plc- situated in Kogi State in North
Central Nigeria with a total installed capacity of
414 MW;
The others are: Afam Power Plc, comprising Afam I-
V power stations located in Rivers State, South-
South Nigeria with an installed capacity of 776 MW;
Sapele Power Plc in Sapele, Delta State, South-
South Nigeria with an installed capacity of 1020
MW.
There are equally two hydro power generating
companies up for sale, namely: Kainji Power Plc
comprising Kainji Power Plants and Jebba Power
Plants located in Niger and Kwara States
respectively in North-Central Nigeria and Shiroro
Power Plc at the Shiroro Gorge, Niger State in
North-Central Nigeria.
The next stage of the privatisation exercise,
according to the spokesman of the BPE, Mr.
Chukwuma Nwoko, will be the harvest of the
bidders' technical and financial proposals for
distribution companies. It has July 31, 2012 as
deadline.
The transaction timeline also reveals that the
evaluation of the technical bids will take place
between August 14 and 28, 2012. The National
Council on Privatisation, NCP, will approve the
results of the technical evaluation on/or before
September 11, 2012.
The deadline for the shortlisted bidders for
generation companies to submit their letters of
credit is September 18, 2012 while October 2, 2012
is for shortlisted bidders for distribution
companies.
The BPE will, between September 25, 2012 and
October 10, 2012, open the financial bids of
prospective investors for the privatisation of the
successor companies.