Lagos, Nigeria – May 30, 2024
Geregu Power Plc, chaired by billionaire businessman Femi Otedola, has entered into a partnership with Siemens Energy to expand the capacity of the Geregu 1 power plant. This development is expected to significantly enhance the power generation capabilities of the facility, contributing to Nigeria’s energy infrastructure.
In a notice to the Nigerian Exchange Limited, seen by Nairametrics, Geregu Power Plc detailed the collaboration, which was formalized through a Memorandum of Understanding (MoU) signed in Berlin on Wednesday, May 29, 2024. The partnership aims to enhance sustainable, resilient, and efficient power generation.
During the signing ceremony, representatives from Geregu Power and Siemens Energy discussed various solutions to improve the plant’s output. Key among these is the upgrade of the Geregu 1 Power Plant from its current capacity of 435MW to 500MW. Additionally, the collaboration plans to establish combined cycle operations that will generate an additional 200MW.
Moreover, the partners intend to construct new builds equipped with lower emission turbines, which will add 500MW, thereby creating Geregu 3. These initiatives are projected to bring Geregu Power Plc’s overall nameplate capacity to 1200MW.
The expansion of the Geregu Power Plant represents a significant stride towards bolstering Nigeria’s power generation capacity, ensuring more reliable and efficient energy supply for the nation.
