By SUNDAY ABBA, Abuja
Mainstream Energy Solutions Limited (MESL) has emerged the preferred bidder for the concession of the Zungeru Hydropower plant (ZHPP) for a fee of $70,000.25 annually for 30 years.
The National Council on Privatisation (NCP), chaired by the Vice President, Prof. Yemi Osibanjo, which gave the approval at its 2nd meeting for the year 2023, held at the Presidential Villa, Abuja directed the Bureau of Public Enterprises (BPE) to commence the negotiations and execution of the concession agreement with the preferred bidder, MSEL.
Mainstream scored 1142 (94.3%) of the total 1,200 marks to emerge winner, beating the Africa Plus Consortium (APPNLC) which scored 742 points, a statement from BPE explained.
It would be recalled that the NCP at its 7th meeting for the year 2020, held on December 21, 2020, approved the concession of the ZHPP, consequent upon which the Federal Ministry of Power (FMOP) donated an irrevocable Power of Attorney to the BPE on June 30, 2021 for the implementations of the NCP’s decision.
MSEL is the operator of Kainji and Jebba hydropower plants in Niger state; the 700 megawatts (MW) Zungeru hydropower has just been completed in the state making it the fourth of such hydropower in Niger, including Shiroro.
BPE accepted bids from 11 firms in 2022 and pre-qualified MESL, Africa Plus (APPNLC) and North-South Power Consortium (NSP) – operator of Shiroro.
In another development, the NCP has approved A scheme of External Restructuring proposed by KEPCO Energy Resources Nigeria Limited (KERNL), the core Investor in Egbin Power Plant.
The approval is to enable the entity to boost its capacity to raise the required capital to double the existing capacity of the plant to 2640MW.