June 1, (THEWILL)- Nigeria’s foremost power generation solutions provider, Geregu Power Plc, has signed a Memorandum of Understanding (MoU) with Siemens Energy to jointly develop solutions for capacity expansion at the Geregu 1 power plant.
The aim is to ensure sustainable, resilient, and efficient power generation while safeguarding the longevity of assets, all aimed at supporting the growth and sustainability of the Nigeria Electricity Supply Industry (NESI).
The deal was disclosed in a notice by Geregu Power Plc to the Nigerian Exchange Limited.
“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 is to safeguard the longevity of assets aimed at supporting the growth and sustainability of the Nigeria Electricity Supply Industry (NESI),” the statement read in part.
The ceremony, which took place in Berlin on Wednesday, May 29, 2024, involved discussions and proposed implementation of various solutions. These included upgrading the Geregu 1 Power plant from its current capacity of 435MW to 500MW, establishing combined cycle operations to generate an additional 200MW, and building new facilities using lower emission turbines with an added capacity of 500MW to create Geregu 3.
The initiative aims to increase power output, improve efficiency, reduce emissions, enhance flexibility, prolong equipment lifespan, and maximise shareholder value through increased earnings for Geregu Power PLC, bringing its overall nameplate capacity to 1200MW.
Chairman, Board of Directors of Geregu Power Plc, Femi Otedola, led the Geregu Power Plc team, while Dietmar Siersdorfer, Managing Director for the Middle East and Africa, led the Siemens Energy Team.
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