NATIONAL COUNCIL ON PRIVATIZATION

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FEDERAL REPUBLIC OF NIGERIA
NATIONAL COUNCIL ON PRIVATIZATION

INVITATION FOR EXPRESSION OF INTEREST FOR CORE INVESTOR SALE OF AFAM POWER PLC AND AFAM THREE FAST POWER LIMITED (“AFAM GENCO”)

1. The Federal Government of Nigeria (FGN), through the National Council on Privatization (NCP) has approved the privatization of Afam Power Plc (“Afam”) and Afam Three Fast Power Limited (“ATFPL”), hereafter jointly referred to as “AFAM GENCO” via Competitive Bidding to be managed by the Bureau of Public Procurement Enterprises (“BPE”).

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2. Afam Power Plc consists of Afam 1-5 with an original installed capacity of 987MW. The plant was commissioned in five phases between 1962 and 2001. The station also has 132KV and 330KV switchyards that are owned and operated by the Transmission Company of Nigeria. Afam 1-5 used to house 20 Gas Tribunes. At present Afam 1,2,3 are decommissioned while two units of Afam 4 (GT17 and 18) are generating between 70 – 110MW, the remaining four units (GT 13-16) and the two units of Afam 5 (GT 19 and 20) can also be rehabilitated.

3. ATFPL is a large scale pilot power project involving the optimization of power output in potential brown field sites through the use of trailer – mounted tribunes utilizing gas or condensate as feedstock. ATFPL consists of an initial installed capacity of 240MW comprising eight (8) tribunes of 30MW each supplied by General Electric.

4. As part of this exercise, the NCP/BPE, on behalf of the FGN, hereby invites prospective core investors to express interest in acquiring FGN’s 100% shareholding in “Afam Genco”.

5. Potential bidders will be responsible for operating the station, improving the generation capacity and will make all necessary investments in line with the objectives of the Federal Government of Nigeria set out in the National Electric Power Policy (NEPP) 2001.

6. Method of Application – Expression of Interest from potential bidders should provide the following as basis of selection:
• Full name of company and contact person, postal address, telephone /fax numbers, and e-mail addresses;
• Evidence of registration with the Corporate Affairs Commission (CAC) by submission of Certificate of Incorporation including Forms CAC2 and CAC7 or CAC Form 1.1;
• Evidence of current Pension Compliance Certificate (2018);
• Evidence of current Industrial Training Fund (ITF) Compliance Certificate (2018);
• Evidence of current Nigeria Social Insurance Trust Fund (NSITF) Compliance Certificate (2018);
• Ownership structure of company: name(s) of major shareholders with 5% or more stake;
• Audited Financial Statements of members of core investor groups for the past three (3) years – 2015, 2016 & 2017 and most recent management account.

7. Technical and operational capabilities:
• Years of experience in operating generating plants, especially experience in Thermal Power Generating Plants;
• Evidence of similar plant(s) owned/operated and that it employs qualified professionals who possess relevant operating experience; and
• Evidence of strong balance sheet and demonstration of a good financial track record over time with respect to its core businesses and in other generation projects.
8. Upon receipt of Expressions of Interest for interested investors, the BPE shall evaluate and pre-qualify applicants.

9. Thereafter, pre-qualified bidders will be issued a Request for Proposal (RFP) and other bidding documents upon the payment of a non-refundable fee of Twenty Thousand United States Dollars ($20,000) in bank draft payable to the Bureau of Public Enterprises.

10. Please note the following:
• The name of the prospective bidder must be stated on the envelope;
• Submissions made by e-mail/late submission will be rejected; and
• Only shortlisted firms shall be contacted.
• All submissions must be in English Language.

11. An original and five (5) other copies of Expressions of Interest shall be delivered in a sealed envelope clearly marked “EOI AFAM GENCO Transaction” at the top right hand corner and delivered to the address below not later than 12th September, 2018 by 1:00pm Local time. Kindly note that bids will be opened immediately by the Evaluation Committee.
Mr. Alex A. Okoh
Director General
Bureau of Public Enterprise (BPE)
11 Osun Crescent, Off IBB Way
Maitama, Abuja-Nigeria,
Tel: 234-9-4604477
E-mail: [email protected]

Attention: Mr. Yunana Malo
Director, Energy Department
Tel: 234-9-4604477
E-mail: [email protected]

For further clarification or enquiries, contact:
Mr. Albert Mould-Shalom
Energy Department
[email protected]
Tel: 234-9-4604414

Or the Transaction Advisers, FBNQuest Consortium
E-mail: [email protected]

DISCLAIMER
This Invitation for Expression of Interest does not in any manner constitute an agreement, and is neither an offer nor an invitation by the FGN to the prospective applicants or any other person. Each prospective applicant shall bear all costs associated with and in relation to its application and the FGN shall not be liable in any manner for any costs or expenses incurred by an applicant in preparation or submission of an application, regardless of the conduct or outcome of the bidding process.

SOURCE: THE GUARDIAN

 

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