FG approves hydro, transmission plants for NIPP Phase 2

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The Federal Government has approved the development of hydro and transmission power plants for the Niger Delta Power Holding Company (NDPHC) under its National Integrated Power Projects (NIPP) Phase 2.
The cheery news which would boost power supply in the country was contained in a new year message by the Managing Director of NDPHC, Mr. James Abiodun Olotu, and made available to Daily Sun in Lagos yesterday.
Olotu explained that funding for the hydro and critical transmission projects under the newly approved NIPP Phase 2 scheme, would be funded from the privatisation of its 10 gas fired plants scheduled for final unbundling in June 2014.
‘‘This is a sure recipe for programme continuity. The adverts for this segment (Phase 2) will hopefully begin to appear in the dailies early this month, God willing. Performing contractors are welcome to benefit but others need not apply.
“The good and the not so good Nigerians will surely celebrate us this year 2014 with great jubilations, the effect of which depends on the side of the equation we find ourselves since our NIPP Phase 1 programme will terminate this year, unfailingly.
“Performing contractors will be celebrated for project delivery and non-performing contractors will be celebrated for funds recovery and other measures. NIPP and its team will stand tall for doing Nigeria a great service by reporting each stage accurately,” Olotu said.
On government approval of the second phase of the NIPP, Olotu said, “one of our reasons for celebration and jubilation comes from the confidence of our leaders and shareholders in our credible net performance records and potentials evidencing this by approving NIPP Phase 2 (involving hydro and critical transmission projects).”
The Federal Government conceived the NIPP idea in 2004 to stabilise electricity supply in the country and the NDPHC has successfully built 10 power plants.
These comprise Omotoso, 450MW; Sapele, 450MW; Geregu, 434MW; Olorunsogo, 750MW and Ihovbor, 450MW. Others are Gbarain, 225MW; Alaoji, 450MW; Calabar, 561MW; Egbema, 338MW and Omoku, 225MW.
With 5,000 megawatts installed capacity, the three tiers of government have reportedly invested over $8 billion in building the plants.
To increase generation capacity, therefore, the NIPP plants are being put up for sale for the divestment of 80 per cent of government’s share.
The sale process commenced with road shows in Lagos, London and New York and for the 10 assets, 368 bidders have emerged.

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