May 31, 2024/NGX

Nigeria’s foremost power generation solutions provider, Geregu Power Plc and Siemens Energy have signed a Memorandum of Understanding 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 ceremony, which took place in Berlin on Wednesday, 29 May 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. These initiatives aim 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.

Mr. Femi Otedola, Chairman of the Board of Directors of Geregu Power Plc, led the Geregu Power Plc team. Mr Dietmar Siersdorfer, Managing Director for the Middle East and Africa led the Siemens Energy Team.