Interstate Electrics Limited, which, last week, emerged the bid winner for the Abuja and Enugu electricity distribution companies, said that joint venture partners are working towards ensuring they deliver on programmes designed for the two companies.

The venture partners also said that they are working with local and overseas financial institutions to ensure the successful takeoff of the DISCOs, as well as their sustenance and profitability.

In a statement made available to Vanguard, Interstate reiterated that its work programmes are ones that will add value to all, saying, “Our work programmes have been designed to add value for money for our shareholders, workers and electricity customers as well as other stakeholders.”

According to the partners, Interstate Electrics is a Special Purpose Vehicle, SPV, created from a consortium comprising Chrome Consortium Energy Nigeria Limited, Powerhouse International Limited, and Metropolitan Electricity Authority, MEA.

The group comprises electricity infrastructure engineers, and operators of electricity power distribution companies, and was established for the purposes of acquiring and operating electricity distribution companies in Nigeria.

Collectively, the venture partners have a combined global experience in excess of 80 years, and the requisite financial resources and technical competence to acquire and modernise the DISCOs awarded to them.