(AGENDAWATCHDOG) – The Bureau of Public Enterprises (BPE) is set to concession the 700 MW Zungeru hydropower station located in Niger State, expected to become operational by the end of this year.
Hence, the BPE is inviting prospective technical advisers to provide transaction advisory services for the process of franchising the plant once it comes online, with a view to driving private participation within the electricity sector.
Furthermore, the selected advisor, alongside other responsibilities, will conduct a due diligence review of the plant; take into consideration all applicable laws and regulations; and formulate a detailed concession plan that will garner interest from international investors and is aligned with criteria set forth by the National Council of Privatization.
The BPE stated that only 14% of construction and preparation works remains to be completed.
Managed by the Federal Ministry of Power and Steel and located on the Kaduna River, the project — which carries an estimated value of $1.3 billion — saw first construction work in May 2013. The Zungeru power station represents the largest hydroelectric project currently underway in Nigeria.
PROJECTED IMPACT: The power station is expected to generate approximately 2,630 GWh per year, in a bid to boost grid-connected installed generation capacity.