Abuja and Lagos — Only four companies have been able to meet the deadline for the payment of 75% balance of bid price by the preferred bidders of the successor companies of the Power Holding Company of Nigeria (PHCN), Daily Trust learnt.
They include bidders for three distribution companies (Discos) and one generation company (Genco).
About 15 firms that prequalified by the BPE had made 25 percent down payment some three months back and were expected to seal the transaction by the payment of the 75 percent balance latest yesterday.
The failure of the 11 companies to meet up with the payment may give opportunity to the reserve bidders to take up purchase of the power companies.
Daily Trust learnt that West Power Company, preferred bidder for the Eko
Disco, Integrated Energy Distribution and Marketing Company, preferred bidders for Ibadan and Yola Discos and Amperion Power Company Limited, preferred bidder for the Geregu genco have paid their 75 percent balance.
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