Firms who have been waiting for
The government is selling four thermal and two hydro power plants, along with 11 electricity distribution firms as part of a drive to end its power shortages. Bringing an end to chronic power shortages is needed to propel the country towards developed nation status.
“The hope is that by Q1 2012 we will be able to hand over to the investors," Bolanle Onagoruwa, director general of the BPE, said at an industry conference on Tuesday.
The BPE executive said that 207 firms have been shortlisted; these firms will need to pay a fee of $20,000 for each asset of interest July 15. Following the submission of fees Onagoruwa said final offers would be submitted on November 1 after a due diligence process.
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