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Meralco a step closer to bagging Ghana power deal

MANILA, Philippines – Manila Electric Company (Meralco), the Philippines' largest power distributor, is one step closer to operating and managing a public electricity distributor in Ghana, after the Millennium Development Authority (MiDA) formally announced that Meralco is the preferred bidder.

MiDA said in a statement that the consortium led by Meralco was determined to have the highest combined technical and financial score.

"Following 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 Limited (ECG) has been completed," MiDA said.

Meralco bested BXC Company Ghana Limited, a subsidiary of Xiaocheng Electronic Technology Stock Company Limited.

MiDA said negotiations are targeted to start "soon" so it can finalize all the agreements related to the operations and management of ECG.

"We will undergo [a] negotiation process," said Meralco legal head William Pamintuan when sought for comment.

MiDA, for its part, assured Ghanaians that it will continue to "adhere to, and uphold high standards of integrity and transparency throughout the process."

MiDa said it targets to finish talks with Meralco by September 6 this year. 

"Likewise, Cabinet review and recommendation of the concession agreement and parliamentary ratification of the concession agreement would be finished by then," it added.

It was on March 26 when MiDA opened both proposals in the presence of the representatives of the bidders.

Meralco and BXC Company participated in the auction for equity ownership and management of the concession company to take over ECG, which supplies 80% of the population of Ghana through 3 million accounts.

The bidding aims to address the root cause of unavailable and unreliable power supply in the west coast of Africa. 

The lack of power supply continues to plague Ghana, hampering economic growth. – Rappler.com