Otedola’s Geregu budgets N40bn to acquire BPE’s power plant, faces obstacle from reps, 15 firms

Geregu Power Plc has reiterated its plan to acquire one of the power generation companies on sale from the Bureau of Public Enterprises (BPE).

Femi Otedola’s investment vehicle, Amperion Power, which is a substantial shareholder in Geregu, has been listed among 16 companies bidding to acquire five National Integrated Power Projects (NIPPs).

Companies competing against Otedola for power plant