BPE, power investors sign agreement on Kaduna, Afam


Chigbo-Anichebe-360x225The Bureau of Public Enterprises will on Monday (today) sign a Share Purchase Agreement with two consortia for the purchase of majority shares in Afam Power Plc and Kaduna Electricity Distribution Company.

The Head, Public Communications, BPE, Mr. Chigbo Anichebe, confirmed this in a telephone interview with our correspondent in Abuja on Sunday.

The core investors are Taleveras for Afam Power Plc and Northwest Power Limited for the Kaduna Electricity Distribution Company.

With a bid of $260.05m, Taleveras had on July 31 beaten TES Power to emerge the preferred bidder for Afam Power Plc, the last of the generating companies carved out of  the Power Holding Company of Nigeria Plc.

TES Power had offered $222.9m to emerge the reserved bidder for the generation company at the financial bid opening, which saw only two potential investors fighting for 60 per cent equity put up for sale by the government.

Both companies met the reserved price for Afam Power Plc at the first round of bidding and were, therefore, designated the preferred and reserved bidders without any need to enter into a second round of bidding.

The Taleveras consortium is made up of Alstom Nigeria Limited, a Nigerian company involved in the supply, operation and maintenance of power turbines; the Alstom Group, a French company involved in power generation and transport; and Taleveras Petroleum Trading BV, a British West Indies company involved in physical trading of crude oil and refined petroleum products.

The Rivers State Government also has a stake in the consortia.


[The Punch]