The Managing Director of Niger Delta Power Holding Company, Chiedo Ugbo, said the Federal Government and preferred bidders has opened negotiation for payment arrangement $1.9bn for three power plants.
The power plants include; the 560 megawatts Calabar Generation Company, 513MW Omotosho GENCO; and 434MW Geregu GENCO in Kogi State.
Ugbo explained that the sale of the 80 per cent shares in the GENCOs was delayed due to liquidity crisis and foreign exchange scarcity.
Advertisement
He said the transaction was delayed because after PHCN’s privatisation in 2013, the electricity market had liquidity crisis.
Related posts:
Reps summon finance minister, power, BPE, others over planned sale of power plants
NNPC releases names of 39 bidders for crude sale
Brexit deal: EU leaders say agreement is not open for negotiation
12 Nigerian power plants produced Zero megawatt electricity on Christmas Day
GENCOS threaten to shut down power plants
Power supply rises to 4,257mw as plants receive gas
Bulgarian miners protest EU push to close coal mines, power plants
India shuts more than half of Delhi’s coal power plants as toxic smog envelops city
