Nigeria’s foremost power generation solutions provider, Geregu Power Plc and Siemens Energy have partnered to expand the capacity of the Geregu 1 power plant in the country.
This was disclosed in a notice, the company filed with the Nigerian Exchange Limited on Friday.
The collaboration formalized through a Memorandum of Understanding (MoU) signed in Berlin on Wednesday, May 29, 2024, aims to enhance sustainable, resilient, and efficient power generation.
A Memorandum of Understanding was signed in Berlin on Wednesday, May 29, 2024, formalizing the collaboration to improve sustainable, robust, and efficient power generation.
The statement reads “Geregu Power Plc and Siemens Energy have signed a Memorandum of Understanding to jointly develop solutions for capacity expansion at the Geregu power plant towards ensuring sustainable, resilient and efficient power generation.
“The initiative seeks to safeguard the longevity of assets aimed at supporting the growth and sustainability of the Nigeria Electricity Supply Industry (NESI)”.
According to the statement, At the ceremony, representatives from both companies discussed several ideas and suggested implementation, including upgrading the Geregu 1 Power Plant from its present capacity of 435 MW to 500 MW.
They also intend to set up a combined cycle operation to generate an additional 200MW and construct new builds with lower emission turbines to add 500MW, thereby creating Geregu 3.
The firm stated that the measures will raise Geregu Power Plc’s total nameplate capacity to 1200M
According to the statement, the discussions involve the proposed implementation of various solutions ranging from the upgrade of the Geregu 1 Power plant from its current capacity of 435MW to 500MW, the establishment of combined cycle operations to generate an additional 200MW and new builds using lower emission turbines with an added capacity of 500MW to birth Geregu 3, bringing Geregu Power Plc’s overall nameplate capacity to 1200MW.
The company noted that the goal of these initiatives includes better power output, enhanced efficiency, reduced emissions, better flexibility, longer equipment life, and maximizing shareholder value through higher earnings.
According to the statement signed by the Company Secretary, Mr. Akinleye Olagbende, Chairman Board of Directors of Geregu Power Plc, Mr. Femi Otedola led the Geregu Power Plc team while Mr. Dietmar Siersdorfer, Managing Director of Middle East and Africa led the Siemens Energy Team.
Geregu Power PLC began its operations in 2007 with a clear mission: to generate and supply electric power through Nigeria’s National Grid. The company operates a power plant with a 435MW installed capacity.
