Niger Delta Power Holding Company (NDPHC) power plant privatisation

Overview:

• Working through its special purpose vehicle (SPV) the Niger Delta Power Holding Company (NDPHC) the Nigerian federal government is looking to privatize 80% of each of the ten power plants built under its National Integrated Power Project (NIPP) project. 
• The process is designed to bolster the electric power sector in Nigeria. 
• The power plants are all under construction, with two partially operating and the Omotosho II plant in Ondo fully operating.
• Each of the plants, each its own SPV, are open-cycle but capable of conversion to combined-cycle. 
• Winners were selected from the bidders in 2014 during the previous presidential administration, but the deals are yet to close. 
• The EMA Consortium was selected as the preferred bidder for Calabar with a bid of $625 million, and won the bid for Benin Generation Company Limited with an offer of $580 million.
• The AITEO Consortium was selected as the preferred bidder for the Alaoji Generation Company with a bid with $902million.
• Dozzy Integrated Power was selected as the preferred bidder for the Egbema Generation Company with a bid of $415 million.
• KDI Energy Resources was selected as the preferred bidder for the Gbarian Generation Company with a bid of $340million.
• Seoul Electric Power was selected as the preferred bidder for the Geregu Generation Company with a bid of $690million.
• The Daniel Power Consortium was selected as the preferred bidder for the Ogorode Generation Company with a bid of $531 million.
• The ENL Consortium was selected as the preferred bidder for the Olurunsogo Generation Company with a bid of $751 million.
• The Shayobe International Consortium was selected as the preferred bidder for the Omoku Generation Company with a bid of $319 million.
• Omotosho Electric Power was selected as the preferred bidder for the Omotosho Generation Company Limited with a bid of $659.
• Discussions on the privatization of three of the power plants were re-opened in August 2016, the 634MW Calabar plant in Cross River State, the 506MW Geregu in Kogi State and the 512M Omotosho plant in Ondo State.
• African Export-Import Bank provided funding for the Omotosho II plant. 

John Crabb - Journalist