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 $70,000.25 annually for 30 years.
A statement from the Bureau of Public Enterprises (BPE) yesterday said the Council, chaired by the Vice President, Prof. Yemi Osibanjo gave the approval at its 2nd meeting for the year 2023 on Tuesday.
NCP directed BPE to commence the negotiations and execution of the concession agreement with MESL which scored 1142 marks (94.3%) of the total 1,200 marks to emerge winner. It beat the Africa Plus Consortium (APPNLC) which scored 742 points.
NCP at its 7th meeting in 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 implementation of the NCP’s decision.
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MESL 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.