The Managing Director of Niger Delta power Holding Company (NDPHC), Mr. Chiedu Ugbo, said the agency had obtained approval to resume the privatisation process of the 10 gas power generating plants built under the National Integrated Power Projects (NIPP) which had been stalled since 2013.
Ugbo, who gave the hint at a power forum in Abuja, said the privatization process will be restarted, but under a new arrangement, adding that the process would now be concluded in phases, starting with three of the plants – 634 megawatts (MW) Calabar, 506mw Geregu and 513mw Omotosho power plants.
“The privatisation of our power plants are still on course with three power station taken together in the first round, specifically, this process will continue with the conclusion of on-going privatisation of Calabar, Geregu and Omotosho power stations while the Vice President and Chairman of the Board directed that Egbema power station be sold ‘As-Is’,” said Ugbo.
The NIPP privatisation which was kicked off on November 11, 2013, was stopped midway on the basis of mixed transaction flaws that included non-availability or completion of some of the plants, as well as uncertainty of gas supply arrangements to the plants, amongst others.
Ugbo, however indicated that once the three are successfully privatised, the agency will move on to the others, but added that a decision on 150mw Omoku will be taken after an ongoing project audit on the plant is concluded.
“Decision on Omoku power station will be taken after the conclusion of on-going project audit of the plant. All these strategies are designed to enable the management complete all the projects under phase one and deliver power to Nigerians.
“In a similar vein, management plans completion of Gbarian power station by firing the second unit to bring available capacity to 225mw as well as completion of Alaoji Combined Cycle Phase, this will bring additional capacity of 270mw with one block steam cycle,” Ugbo added
Source: National Mirror