The Geregu Power Plc has signed a massive deal with German company, Siemens Energy to expand the capacity of its existing power plants to generate additional 265MW of electricity as well as to build new lower turbines that will generate a fresh 500MW of electricity in what would form Geregu power plant 3.
With these upgrades, a total of 765MW would be added to the generation capacity of the Geregu Power Plc and will bring the company’s total installed capacity to 1200MW.
The announcement of the deal with Siemens was contained in the notice sent to the Nigerian Exchange Limited by Geregu Power Ltd. The partnership with the German company was formalized through a Memorandum of Understanding (MoU) signed in Berlin on Wednesday, May 29, 2024.
The statement signed by the Geregu Power Company Secretary, Mr. Akinleye Olagbende, 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 is to safeguard the longevity of assets aimed at supporting the growth and sustainability of the Nigeria Electricity Supply Industry (NESI).
During the ceremony, representatives from both companies discussed and proposed several solutions, including upgrading 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.”
At the Berlin ceremony, the Chairman Board of Directors of Geregu Power Plc, Mr. Femi Otedola led the Geregu Power Plc team while Mr. Dietmar Siersdorfer, Managing Director of Siemens Energy (Middle East and Africa) led the Siemens Energy Team.