Power

Three power investors manage to beat payment deadline

Aug 21, 2013

West Power and Gas, Integrated Energy Distribution and Marketing Company and Amperion Power Company Limited  Tuesday beat the deadline given to bidders to pay the outstanding 75 per cent for the distribution and generation companies being sold to investors through the privatisation process. Sources in the Bureau of Public Enterprises, BPE, informed that West Power…

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Confusion as payment deadline for power investors expires

Aug 21, 2013

The deadline for the preferred bidders for 14 power generating and distribution companies slated for privatisation by the Federal Government will expire today amid confusion over the status of the alleged payments made by some of the intending investors. As of 9.30pm on Tuesday when this report was being compiled, the Bureau of Public Enterprises…

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FG to tackle transmission challenges with $1.6 billion from the proceeds of NIPP sales

Aug 20, 2013

The Federal Government has said that it would commit the majority of about $1.6 billion proceeds to be realized from the sale of the National Integrated Power Projects, NIPP, to tackle the problem of transmission in the country. The Minister of Power, Professor Chinedu Nebo, who disclosed this while receiving members of the Independent Power…

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Power generation rises to 3248MW, as Shell restores operations at power plant

Aug 20, 2013

Electricity generation got a boost last week with additional 300 Megawatts, following the restoration of operations at Shell’s Afam VI power plant. The Presidential Task Force on Power, PTFP, which announced this via a statement issued by its Head, Media Communication, Mrs. Awele Okigbo in Abuja, said the development brought total system generation up to…

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Federal Government secures additional $1.4bn for TCN

Aug 20, 2013

In order to convince bidders of the various Power Holding Company of Nigeria (PHCN) successor companies currently being privatised that it is committed to strengthening Nigeria’s weak electricity transmission network, the federal government has announced that an additional funding of about $1.4 billion has been secured recently from various sources for the Transmission Company of…

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No payment deadline extension for power investors – BPE

Aug 20, 2013

The Bureau of Public Enterprises has said it will not extend the Wednesday deadline for the payment of the outstanding 75 per cent of the bid prices for 15 successor companies of the Power Holding Company of Nigeria by the preferred bidders. If the preferred bidders selected by the National Council on Privatisation failed to…

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Power bidders scramble to meet payment deadline

Aug 19, 2013

The preferred bidders selected by the National Council on Privatisation (NCP) for the five generation and 10 distribution companies created out of the unbundling of Power Holding Company of Nigeria (PHCN) are scrambling to meet the Wednesday deadline set by NCP to pay the outstanding 75 per cent of the bid price for the respective…

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NCP asks 82 firms to bid for 10 power plants

Aug 19, 2013

No fewer than 82 companies have been requested to submit proposals for 10 power plants under the National Independent Power Plants, NIPPs, in the next round of Nigeria’s electricity privatisation programme. In a statement obtained by Vanguard yesterday, the Bureau for Public Enterprises, BPE, said the decision was taken at the second joint meeting of…

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ALSCON to transfer 360MW electricity to national grid

Aug 19, 2013

The Aluminium Smelter Company of Nigeria has said it will transfer 360MW of electricity to the national grid as part of its support for the development of the nation’s power sector. The company, which said Nigeria currently occupied the 39th position among the world’s biggest economies, lamented the country’s 70th place in terms of power…

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FG commits N70.2bn euro bond to gas infrastructure

Aug 19, 2013

The Federal Government has announced the allocation of N70.2bn ($450m) for the improvement of gas infrastructure across the country. This, it said, was aimed at addressing the gas supply problems, which have led to a sharp reduction in power generation in the country. The Minister of Power, Prof. Chinedu Nebo, who disclosed this in Abuja,…

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