MiDA awards ECG Concession to Meralco Consortium

The Millennium Development Authority (MiDA) has awarded the operation, investment and management of the Electricity Distribution Business of the Electricity Company of Ghana (ECG) to the Meralco Consortium.

This followed the completion of the international competitive procurement process and evaluation of the proposals received for the ECG Concession.

A statement issued by Madam Pamela Djamson-Tettey, the Director of Communication and Outreach for MiDA, copied to the Ghana News Agency in Accra, said Meralco Consortium was adjudged to have had the highest combined technical and financial score and, therefore, been designated as the preferred Bidder. 

‘‘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 million,’’ the statement said.

It said negotiations would soon commence to finalise all the agreements related to the implementation of the ECG Private Sector Participation Transaction.

MiDA, therefore, assured Ghanaians that it would continue to adhere to, and uphold high standards of integrity and transparency throughout the process.

Source: GNA