Politics Here Are The 3 Power Projects FG Put Up For Sale

Discussion in 'Political News' started by RemmyAlex, Oct 12, 2017. Views count: 1112

  1. RemmyAlex

    RemmyAlex Social Member Curators

    Three electricity generation companies (Gencos) built by the Niger Delta Power Holding Company (NDPHC) under the National Integrated Power Projects (NIPPs) would soon be sold to private investors in continuation of the 2013 NIPP privatisation that was suspended, the Managing Director of NDPHC, Mr. Chiedu Ugbo, has disclosed.

    The plants, which he said their privatisation move has been approved by the Federal Government, include the

    1. 634 megawatts (MW) Calabar,

    2. 1,076MW combined cycle Alaoji, and

    3. 506MW Geregu.


    He noted that the challenges that stalled their sales had largely been cleared and were now ready to be privatised.

    Ugbo explained that the government approved their privatisation because the transmission and gas supply troubles they had, had been resolved and that the market risks in the sector were being addressed.

    He also noted that preferred bidders for the plants were still very interested in them as against thoughts that they might have lost interests.

    The government said the privatisation process started in 2012; and moved to 2013 with the emergence of the preferred bidders. At that time, it was a mix of market issues and internal issues that had to do with gas supply, completion of the power plants and evacuation.
     

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