The Federal Government through the Bureau of Public Enterprises is currently carrying out transactions for the sale of five power plants under the National Integrated Power Projects at a cost of about $1.15bn, it was gathered on Tuesday.
Although sources familiar with the development explained that the cost of the plants should exceed $5bn based on international benchmark, they revealed that the BPE was planning to sell the facilities at a price that is a little above $1.1bn.
The acting Director-General, BPE, Ignatius Ayewoh, confirmed it said, “the transaction is ongoing,” adding that “it is not concluded.”
Sources at the bureau named the five power plants to include the 434 megawatts gas-fired Geregu II power plant, located in Kogi; 451MW Omotosho II plant in Ondo; and 750MW Olorunshogo II plant in Ogun State.
Others include the 563MW Odukpami power plant in Calabar, Cross River State; and the 451MW Benin-Ihovbor plant in Edo State.
It was gathered that the Omotosho plant, which has four power generating turbines, would be sold at about $85m; while the Olorunsogo NIPP with also four turbines would cost $170m.
The Benin-Ihovbor plant with five power generating turbines would go for $420m; Calabar Odukpami plant with five turbines would be sold at about $260m; while the Geregu plant with four turbines would go $215m.
“These are Siemens turbines and each of the turbine can generate about 115MW of electricity,”
