By Tunde Sholanke
The Association of Power Generation Companies,has described the recent acquisition of Zungeru Hydro Power Plant (ZHPP) by Mainstream Energy Solutions Limited,as a mark of distinction and foresight.
Chief Executive Officer of the group,Dr.Joy Ogaji,disclosed this in a congratulatory letter to the company after it emerged the preferred winner for the power plant.
She said:”We believe your drive and dedication will make the business a success.We admire your courage, persistence and determination in pursuing this new and exciting path.We wish you all the success in the world as you embark on the new adventure”
The National Council on Privatisation (NCP) had Wednesday,announced the approval of 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 (SAN), 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 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.
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.
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.
