Benin Electricity DisCo (“BEDC” or “Benin Disco”) is one of the successor distribution companies (DisCos) created following the unbundling and privatization of the state-owned Power Utility, Power Holding Company of Nigeria Plc. BEDC is responsible for retail distribution of electricity in Delta, Edo, Ekiti, and Ondo States with geographical coverage of 55,770 square kilometers. The company operates from twenty two (22) business districts with approximately 350 offices located across the four (4) states with about 13 million people and about 4 million households.
BEDC is the 4th largest DisCo in distribution capacity and 3rd largest in number of households among the Distribution Companies (DisCos) being privatized. BEDC is strategically located and uniquely positioned to maximize the opportunities that may arise as Nigeria’s power trading market becomes more competitive and liberalized, as there are a number of major power generations and transmission hubs located within the area.
BEDC is a joint venture between Vigeo Power Limited (Vigeo Power) and the Federal Government of Nigeria (FGN) represented by Bureau of Public Enterprises (BPE) and the Ministry of Finance (MOFI), with the majority being held by Vigeo Power as the core investor.
BEDC through the majority equity partner (Vigeo Power) has highly experienced and competent investors and technical partners comprising amongst others of Vigeo Holdings Limited (Vigeo Holdings) as the Lead Financial Investor; Africa Finance Corporation (AFC) as an Investor, Global Utilities Management Company Limited (GUMCO) as Technical Service Provider/Financial Investor and NDPL INFRA Limited (NDPL) as Technical Service Provider.
GUMCO is a leading power utilities management company in Nigeria with over 12years track record of performance in Ikeja, Ikorodu and Benin in Revenue Cycle Management (RCM) and National Pre-Paid Metering Program (NPPMP) programs, both of which are private sector initiatives. GUMCO maintains strong relationships at all levels in the Nigerian Power Industry, and in particular, BEDC.
NDPL has distinguished itself by being the first success story of the Power Sector Reforms in New Delhi, India under the Public Private Partnership model. It succeeded in reducing ATC&C losses in its licensed area by c. 80% in ten years. The Nigeria Power Sector reform being carried out mirrors the Delhi Model.
The AFC is leading Pan-African infrastructure financial; institution, with strong in house power and utility management expertise. AFC brings to the Consortium, strong financial backing and its knowledge from prior similar transactions.
Vigeo Holdings is a multi business enterprise with investments in oil & gas, shipping, financial services; power and marketing services.
Vigeo Power is geared to deliver on BEDC’s full potential, providing electricity to its constituents.