The Nigerian Bureau of Public Enterprise is inviting bids for the concession of the 700 MW Zungeru (4 x 175 MW) hydropower project - currently under construction - by 2023. The country’s privatisation agency has set 24 November as deadline for Request for Qualification (RfQ). Only shortlisted investors will be invited to the second phase of the bidding.
The private partner, which will operate, manage and maintain the plant for 30 years, will also be responsible for repaying the Chinese loan. In 2013, the Exim Bank of China awarded a US$985m loan with preferential conditions for the project to Nigeria, covering 75% of its cost, and a construction contract was signed with two Chinese state-owned companies, China National Electrical Equipment Corporation (CNEEC) and Sinohydro Consortium, to build the power plant, whose construction started also in 2013.
The US$1.3bn project, which should produce 2.6 TWh/year of electricity, is expected to be fully operational in 2023. The first turbine started producing electricity in April 2022.
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