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Geregu Power Signs Deal With Siemens To Upgrade Power Plant To 500MW
Geregu Power Plc chaired by billionaire businessman, Femi Otedola, has entered a partnership with Siemens Energy to expand the capacity of the Geregu 1 power plant in the country.
This was contained in the company’s notice to the Nigerian Exchange Limited seen by Nairametrics.
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.
According to the statement, 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.
They also plan to establish combined cycle operations to generate an additional 200MW and construct new builds with lower emission turbines to add 500MW, thereby creating Geregu 3.
The company noted that these initiatives will bring Geregu Power Plc.
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