National Council on Privatisation,NCP, has approved Transcorp Power as the preferred bidder for the Afam Electricity Generation Coy (Afam Power Plc and Afam Three Fast Power Ltd) with bid price of NGN105.3bn (c.$343.6m) and Diamond Stripes Consortium as reserve bidder with NGN102.3bn.
Council also approved Quest Electricity Nigeria Limited as the preferred bidder for re-privatised Yola Electricity Distribution Company with a bid price of NGN19bn (about US$62m) which is above the US$59m paid by the previous core investor in 2013.
Afam Power is the oldest power plant in Nigeria with a combined installed capacity of 966MW.
Details later…
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