Under the deal, Jigawa State, in partnership with Future Energies Africa, the new core investor in KEDCO, will be increasing its shareholding in KEDCO from 7.5% to 10%
Future Energies Africa (FEA) has announced its takeover of the Kano Electricity Distribution Company (KEDCO), after instituting a court order to halt its sale to another company by the federal government. Recall that the Nigerian Electricity Regulatory Company (NERC) had in August said it received a request for ‘No Objection’ confirmation from Receiver Manager appointed…
The defendants include the Nigerian Electricity Regulatory Commission, BPE, Sahelian Power SPV Limited (in Receivership), Patrick J.N. Ikwueto (SAN) in his capacity as receiver manager of Sahelian Power, Fidelity Bank, KEDC Plc and Power Com Smartgrid Nigeria Limited.