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Hydro generation asset privatization - Phase 1 bid advisory

Privatization plan of the electricity generation and distribution assets in Nigeria.

Description of project:

Nigeria is undertaking an aggressive privatization plan of the electricity generation and distribution assets held up to now by the Federal Government through the Power Holding Company of Nigeria. Six (6) generation companies and eleven (11) distribution companies are available for bidding through a competitive process managed by the Nigerian Bureau of Public Enterprises (BPE). Core investors submitted expressions of interest on March 4, 2011, and currently await evaluation of the EOIs and the release of the list of pre-qualified investors who will continue on to the full bidding stage.

There has been a wealth of interest displayed by Nigerian investors to take part in the bidding, however, most of these investors alone lack the technical experience in power asset operation & maintenance to pass the pre-qualification stage.

To facilitate the participation of the most reputable national investors, AF Mercados EMI has been assisting several Nigerian investors in the search for first class international power utilities and technical firms who will form a part of the bidding consortia as the Operation and Maintenance partner, eventually responsible for the daily management of the privatized assets.

ÅF's services:

AF Mercados performed the following services in assistance to the development of the Client’s Expression of Interests (EOIs) for the two hydro generation companies undergoing privatization (Kainji/Jebba and Shiroro):

  • Search for and Recruitment of the international technical partner for the generation assets (international hydro generation company);
  • Negotiation of Memorandum of Understanding (MOU) and other agreements between the Investor (Client) and the Technical Partners;
  • Assistance in formal meetings with Bid Agency (Bureau of Public Enterprises) and in bid strategy advisory.

With our assistance, and through careful matching of interests and strategies, our Client formed two separate consortia with the corresponding MOUs with the technical partner, and successfully submitted its EOIs to the BPE by the deadline of Friday, March 4, 2011.

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