Meralco Electric Co. took part in the second round of bidders’ briefing with the government of Ghana to take a shot at a power distribution concession in the West African capital of Accra.
According to Ghana’s Millennium Development Authority (MiDA), Meralco is one of the shortlisted entities from across the globe that met with state officials recently.
Meralco’s rivals for the contract to manage the Electricity Company of Ghana Ltd. (ECG) are the consortia of CH Group (Ghana)/ EDF SA/LMI Holdings/Veolia SA; BXC Company Ghana Ltd/ Xiaocheng Technology Stock Co. Ltd./Shaanxi Regional Electric Power Group Co. Ltd. (China) and Tata Power Co. Ltd. (India)/CDC Group Plc (United Kingdom).
Ghana officials included representatives from the country’s ministries of finance, energy and justice; the Attorney General’s Department, Public Utilities Regulatory Commission, Energy Commission, ECG and MiDA.
“The goal has remained the same, to procure a concessionaire who would not only inject the required financial investments ECG needs, but also introduce modern technology and efficiency strategies that would turnaround the operational and financial fortunes of ECG,” MiDA chief executive Owura Sarfo said in a statement.
“The meetings have been planned to ensure that all clarifications and questions from each Applicant are adequately addressed and everyone is on the same footing as we proceed to the remaining stages of the procurement process,” Sarfo said.
According to Mida, the applicants have until Jan. 5, 2018, to submit their bids for evaluation.
Also, the selection and announcement of the winning bidder to manage, operate and invest in the electricity distribution business of the ECG should be completed by March 2018. Financial closing is expected to be in September 2018.
According to MiDA, the bidding of concession to run ECG is part of the Ghana Power Compact II Program.