Thursday, March 23, 2023
Home Law NCP names Mainstream Energy Solutions preferred bidder for Zungeru Power plant

NCP names Mainstream Energy Solutions preferred bidder for Zungeru Power plant

The National Council on Privatisation (NCP) has approved Mainstream Energy Solutions Limited (MESL) as the preferred bidder for the concession of the Zungeru Hydroelectric Power plant (ZHPP) for a fee of $USD70,000.25 per year for a period of 30 years.

The Council, chaired by the Vice President, Prof. Yemi Osibanjo, which gave the approval at its 2nd meeting for the year 2023, held on Tuesday, February 21, 2023 at the Presidential Villa, Aso Rock, Abuja , directed the Bureau of Public Enterprises (BPE) to commence  the negotiations  and execution  of the concession agreement with the  preferred bidder.

MESL (the preferred bidder) scored 1142 marks (94.3%) of the total 1,200 marks, thus surpassing the minimum benchmark score of 75% of 1,200 marks, having offered the highest concession fee of $USD70,000.25 to beat Africa Plus Partners Nigeria Limited Consortium (APPNLC) which scored 742 points.

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 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.

Based on this, the BPE published the Requests for Qualifications (RfQ) for the concession of the power plant in three national newspapers on October 27, 2022 which at the close of the deadline, 11 firms submitted bids. 

Three of them – Africa Plus Partners Nigeria Limited Consortium (APPNLC), Mainstream Energy Solutions Limited (MESL and North-South Power Consortium (NSP) were prequalified.  

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.


CBN advises Central Bankers in Africa to ensure tighter regulation of banks

Emefiele gave the charge on Wednesday, March 15, 2023, at the opening of the 2023 African Central Bank Conference held at the Global Leadership Center, Johannesburg, South Africa.

Shell lifts force majeure on Bonny light exports

The force majeure was declared on March 3, 2022 following a significant decline in crude receipts at the Bonny Oil and Gas Terminal.

CBN orders banks to receive, dispense old Naira notes

The CBN gave the directive at a Bankers’ Committee meeting held on Sunday, according to a statement by the Acting Director, CBN Corporate Communications, Isa AbdulMumin, on Monday.


Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

We pay for only electricity generated, put on the grid – NBET 

The Nigerian Bulk Electricity Trading (NBET), has said that it only responsible for electricity generated and put on the grid and not...

NLNG joins U.N. group to reduce methane emissions, pursues decarbonisation

 According to NLNG’s Managing Director and Chief Executive Officer, Dr Philip Mshelbila, the Company had signed an MoU with UNEP in the last quarter of 2022, stating that the signing demonstrated the Company’s commitment to reduce methane emissions from its operations as part of its decarbonisation journey.

Nigeria launches six regulations for Midstream, Downstream petroleum sector

The new regulations are: Midstream and Downstream Petroleum Operations Regulations, 2023, Assignment or Transfer of License and Permit Regulations, 2023; Petroleum Measurement Regulations, 2023;. Gas Pricing and Domestic Demand Regulations, 2023; Petroleum (Transport and Shipment) Regulations, 2023 as well as  Natural Gas Pipelines Tariff Regulations, 2023.

NBET denies NDPHC January payment

NDPHC, from data gathered by energy TIMES, was billed N854,104,159 million, having consumed 861,007.18 million cubic feet of gas in the month of January.

Recent Comments