The bid for the take-over of the 17 successor companies from the unbundling of the Power Holding Company of Nigeria (PHCN) will open next week.

This was disclosed by the Minister of Power, Professor Barth Nnaji during an interview with Channels Television on Friday.

According to Prof. Nnaji, the federal government will next week also sign a Memorandum of Understanding with Canada-based Manitoba Hydro International Limited for the management of the Transmission Company of Nigeria.

The restructuring of the PHCN saw the emergence of 18 successor companies – six generation, one transmission and 11 distribution companies.