{"id":3873,"date":"2023-02-22T15:21:28","date_gmt":"2023-02-22T15:21:28","guid":{"rendered":"https:\/\/www.bpe.gov.ng\/?p=3873"},"modified":"2025-09-08T01:36:57","modified_gmt":"2025-09-08T01:36:57","slug":"ncp-approves-mesl-as-preferred-bidder-for-zungeru-hydroelectric-power-plant","status":"publish","type":"post","link":"https:\/\/bpe.gov.ng\/staging\/ncp-approves-mesl-as-preferred-bidder-for-zungeru-hydroelectric-power-plant\/","title":{"rendered":"NCP Approves MESL As Preferred Bidder For Zungeru Hydroelectric Power Plant"},"content":{"rendered":"<p>&nbsp;<\/p>\n<ul>\n<li><strong>Also Approves Merger of Egbin Power Plant With KEPCO<\/strong><\/li>\n<\/ul>\n<p>The National Council on Privatisation (NCP) has approved Mainstream Energy Solutions Limited (MESL) as the preferred bidder for the concession of the Zungeru Hydroelectric Power plant (ZHPP) for a fee of $USD70,000,000.25 per year for a period of 30 years.<\/p>\n<p>The Council, chaired by the Vice President, Prof. Yemi Osibanjo (SAN), which gave the approval at its 2<sup>nd<\/sup> meeting for the year 2023, held on Tuesday, February 21, 2023 at the Presidential Villa, Aso Rock, Abuja , directed the Bureau of Public Enterprises (BPE) to commence\u00a0 the negotiations\u00a0 and execution\u00a0 of the concession agreement with the \u00a0preferred bidder.<\/p>\n<p>MESL (the preferred bidder) scored 1142 marks (94.3%) of the total 1,200 marks, thus surpassing the minimum benchmark score of 75% of 1,200 marks, having offered the highest concession fee of $USD70,000,000.25 to beat Africa Plus Partners Nigeria Limited Consortium (APPNLC) which scored 742 points.<\/p>\n<p>It would be recalled that the NCP at its 7<sup>th<\/sup> meeting for the year 2020, held on December 21, 2020, approved the concession of the ZHPP, consequent which the Federal Ministry of Power (FMOP) donated an irrevocable Power of Attorney to the BPE on June 30, 2021 for the implementations of the\u00a0 NCP\u2019s decision.<\/p>\n<p>Based on this, the BPE published the Requests for Qualifications (RfQ) for the concession of the power plant in three national newspapers on October 27, 2022 which at the close of the deadline, 11 firms submitted bids. Three of them &#8211; Africa Plus Partners Nigeria Limited Consortium (APPNLC), Mainstream Energy Solutions Limited (MESL and North-South Power Consortium (NSP) were prequalified.<\/p>\n<p>In another development, the NCP has approved A scheme of External Restructuring proposed by KEPCO Energy Resources Nigeria Limited (KERNL), the core Investor in Egbin Power Plant.<\/p>\n<p>The approval is to enable the entity to boost its capacity to raise the required capital to double the existing capacity of the plant to 2640MW.<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n<p><strong>Ibeh, Uzoma Chidi<\/strong><\/p>\n<p><em>Head, Public Communications<\/em><\/p>\n<p>February 22, 2023<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; Also Approves Merger of Egbin Power Plant With KEPCO The National Council on Privatisation (NCP) has approved Mainstream Energy Solutions Limited (MESL) as the preferred bidder for the concession of the Zungeru Hydroelectric Power plant (ZHPP) for a fee&#8230;<\/p>\n","protected":false},"author":1,"featured_media":15288,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3873","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.5 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>NCP Approves MESL As Preferred Bidder For Zungeru Hydroelectric Power Plant - Bureau of Public Enterprise<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/bpe.gov.ng\/staging\/ncp-approves-mesl-as-preferred-bidder-for-zungeru-hydroelectric-power-plant\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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