Get to know the new Electricity Companies in Your Area. There is no more NEPA/PHCN in Nigeria Again. They Are Now Called GENCOS (Generation Companies) & DISCOS. (Distribution Companies). Just Like There Is No More Nitel But MTN, GLO, Airtel and so on: DISCOS (DISTRIBUTION COMPANIES) 1. Ikeja Distribution Company (NEDC/KEPCO Consortium) 2. Jos Distribution Company (Aura Energy Limited) 3. Kano Distribution Company (Sahelian Power SPV Ltd) 4. Port Harcourt Distribution Company (4Power Consortium) 5. Yola distribution Company (Integrated Energy Distribution & Marketing Ltd) 6. Abuja Distribution Company (KANN Consortium Utility), 7. Benin Distribution Company (Vigeo Power Consortium), 8. Eko Distribution Company (West Power & Gas), 9. Enugu Distribution Company (Interstate Electrics Ltd) and 10. Ibadan Distribution Company (Integrated Energy Distribution & Marketing Ltd). GENCOS (Generation Companies are Shiroro ) 1. (North-South Power Company), 2. Kainji (Mainstream Energy Solutions Ltd), 3. Geregu (Amperion Power Distribution) and 4. Ughelli (Transcorp Ughelli Power Plc). NB: The Transmission Company of Nigeria (TCN) is managed MANITOBA, a Canadian Electricity Giant. Power transmission is the movement of energy from its place of generation to a location where it is applied to performing useful work. (TCN) Power generation is the process of generating electrical power from other sources of primary energy. (GENCOs) Power distribution is the final stage in the delivery of electricity to end users. A distribution systems network carries electricity from the transmission system and delivers it to consumers. Typically, the network would include medium-voltage (1kV to 72.5kV) [1] power lines, substations and pole-mounted transformers, low-voltage (less than 1 kV) distribution wiring and sometimes meters. (DISCOs). NB: Local owners of the new power companies are mostly investors who had hitherto been fishing in unrelated business waters, with little or no technical knowledge of how these unbundled power firms operate. But checks showed that in all the cases, local investors have partnered with foreign partners with technical expertise in acquiring the plants and are relying on that expertise to turn the plants round. Owners of the generation companies are: Amperion Limited for Geregu I Genco, Transcorp/Woodrock for Ughelli plant, Mainstream Energy for the Kainji and Jebba generation company (Genco), North South Power for Shiroro plant, and NEDC/KEPCO alongside its local partner, Sahara Energy Resource Nigeria for the Egbin Genco. Chief Femi Otedola, Chairman of Amperion Ltd, owner of Geregu I Genco is also the Chairman of Forte Oil, a major player in the nation’s oil and gas sector. Otedola is financing 57% of Amperion’s total equity. Its technical partners are BSG Resources Ltd with 38% and Shanghai Municipal Electric Power Company, 5%. Amperion purchased the PHCN firm for $132 million. It plans to jack up power generation at the Geregu plant to 600mw, a 50% increase, in the short-to-medium term. Mr Tony Elumelu is Chairman of Transcorp/ Woodrock Consortium, which acquired the 972mw capacity Ughelli Power firm at $ 300million. The former Chief Executive Officer (CEO) of United Bank for Africa (UBA), through his Heirs Holdings Limited, committed a $ 225m fund through debt financing by African Finance Corporation (AFC), UBA and First City Monument Bank. The new owners plan a massive increase of generation capacity to over 1070mw within the next five years. President/Chief Executive Officer of the Transcorp group, Obinna Ufudo, told Sunday Trust that management plans a three-phase operation of “quick wins, refurbishment and expansion.” He explained the quick wins as involving activities that will immediately address the shortage in available capacity. “Our technical experts have identified a number of small fixes which, when carried out in a relatively short time period of no longer than a year after we take over, will lead to an increase in available capacity,” Ufudo said. Elumelu’s Heir Holdings has been promoting businesses, especially small and medium scale enterprises across Africa since its chairman retired as UBA’s group chief executive officer in July 2010. His Tony Elumelu Foundation, a pan- African “not-for-profit” institution dedicates itself to promoting and celebrating entrepreneurship by enhancing the capacity of African businesses and deploying financial capital through impact investments. Elumelu’s philosophical objective is to, in his words, “prove that the African private sector can itself be the primary generator of economic development.” Transcorp, a publicly listed Nigerian company, is one of the firms Heir Holdings has investments in. With the partnership with Woodrock, an American multi-services firm, Elumelu hopes to add further practical vent to that objective, especially on the home front. Col. Sani Bello (rtd) is the arrowhead of Mainstream Energy Solutions, which got Kainji and Jebba Generation Company (Genco) for N27.2bn ($170m). The deal was financed by Guaranty Trust Bank and the AFC. Bello is a former military administrator of Kano state. He has also been chairman of MTN in the telecoms sector and Amni Oil and Gas. Mainstream partnered with a Russian company, RusHydro to acquire the plant thereby venturing into a third sector of the Nigerian economy. Niger State Government is one of the owners of the North South Power which acquired the Shiroro generation plant at $111.7 million. Other partners are XS Energy Ltd, BP Investment Ltd, Urban Shelter Ltd, Road Nigeria Plc, China International Water Electric and China Three Gorgers Corporation, the corporation handling the Zungeru 700mw hydroelectricity project in the same Niger state. Tope Sonubi and Tonye Cole’s Sahara Energy Resource Nigeria is the local partner to the NEDC/Korea Electric Power Company (KEPCO), an international investor that acquired the Egbin Power Station located in Ijede, Lagos state for $407 million. Sonubi and Cole are known players in the oil and gas downstream sector company. For the distribution companies, KANN Consortium acquired the Abuja Distribution Company (Disco), Vigeo got the Benin Disco, West Power and Gas acquired Eko Disco, NEDC/ KEPCO bought Ikeja, while Sahelian Power SPV got the Kano disco. Also, Integrated Energy Distribution and Marketing Company acquired both Ibadan and Yola discos, Interstate Electrics got Enugu, Aura Energy got the Jos disco while the 4Power Consortium comprising Bayelsa, Rivers, Cross River and Akwa Ibom state governments acquired the Port Harcourt disco. Neil Croucher is Managing Director of KANN Utility Consortium Ltd. The company, a joint venture of Copperbelt Energy Corporation (CEC) Plc and Xerxes Global Investments, acquired 60% of the Abuja Electricity Distribution Company (AEDC) at $164 million. Its technical partner, CEC Zambia has a standing history of providing power solutions to mining companies in Zambia, Congo Democratic Republic and South Africa. As an international firm with the required expertise, it is expected to ensure a complete turnaround of the Abuja Disco within a short term. The disco has a franchise for providing electricity services for the Federal Capital Territory, Kogi, Nasarawa and (parts of) Niger states. Victor Gbolade Osibodu is the owner of Vigeo Power Ltd which acquired the Benin Disco after paying its 75% balance of $96.75. He is the husband of former Managing Director of Union Bank, Mrs Funke Osibodu. Vigeo, established in 1999, is a multi-business group that includes Global Utilities Management Company (GUMC). GUMC has since been providing services in metering system to the Benin Disco. Vigeo plans an additional N40 billion investment in the next five years to turn around its acquired disco. Mr Charles Momoh, Chairman of West Power and Gas; Dr Tunji Olowolafe and Mr Ernest Orji lead the ownership of Eko Disco. They are partnering with Siemens Ltd of Germany, the executor of the recently commissioned 434mw Geregu II National Integrated Power Projects (NIPP) under the Niger Delta Power Holding Company (NDPHC); Alpha Consortium Ltd, Atlantic Meridian and Africa Infrastructure Investment Fund 2, Mauritius to form the West Power and Gas Consortium. West Power acquired the Eko Disco after full payment of $135 million. Its management disclosed the expansion and rehabilitation of the plant will take another $ 257 million. KEPCO/NEDC Consortium also acquired the Ikeja Distribution Company at $ 134.75 million, making it the only investor to have a stake in both the generation and distribution sections of the nation’s power sector. Experts said the development raises a major concern as to its efficiency and that monitoring efforts by stakeholders and consumer societies must be doubled to sustain performance. Former Head of State, Gen. Abdulsalam Abubakar is chairman of Integrated Energy Distribution and Marketing Company (IEDMC), which acquired both the Ibadan and Yola discos for $160 million.
Posted on: Sat, 02 Nov 2013 15:57:41 +0000
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