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Meralco wins bid to manage ECG

The Millennium Development Authority (MiDA) has announced  Meralco Consortium as the “preferred bidder” to manage the controversial Electricity Company of Ghana concession.

The decision, MiDA said, was taken following the completion of  “an international competitive procurement process, the evaluation of the proposals received for the Management of, Operation of, and Investment in the Electricity Distribution Business of the Electricity Company of Ghana (ECG)”.

The Meralco Consortium was determined to have the highest combined technical and financial score and has therefore been designated as the preferred bidder, a statement signed by Pamela Djamson-Tettey, Director, Communication and Outreach at MiDA said.

The Meralco Consortium is led by the Manila Electricity Company (Meralco), a 115 year old privately owned company incorporated in the Philippines.

Its electricity distribution network covers a third of the Philippines and serves a customer population (Accounts) in excess of six (6) million.

“Negotiations will soon commence to finalise all the agreements related to the implementation of the ECG PSP Transaction,” MiDA noted.

“MiDA wishes to assure Ghanaians that it will continue to adhere to, and uphold high standards of integrity and transparency throughout the process.”

The Africa Centre for Energy Policy had warned that Ghana would lose about 150 million dollars if the country fails to reach a consensus on the Electricity Company of Ghana (ECG) concession agreement by September 2018. Read More

Read also: ISODEC predicts doom over planned ECG concession

Source: 3news.com | Ghana

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