Mainstream Energy Solutions Limited (MESL) has been chosen as the preferred bidder for the concession of the Zungeru Hydroelectric Power Plant (ZHPP) for a fee of $70,001.25 per year for 30 years by the National Council on Privatisation (NCP).
According to a statement released by the Bureau of Public Enterprises (BPE) yesterday, the Council, which was presided over by Vice President and professor Yemi Osibanjo on Tuesday during its second meeting for the year 2023, gave the approval.
NCP instructed BPE to begin talks and execute the concession agreement with MESL, which received 1142 out of a possible 1,200 points, or 94.3 percent, to win the contest. It outperformed the 742-point Africa Plus Consortium (APPNLC).
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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.
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.
Story adapted from Daily Trust
