June 22, 2024
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Nigeria: Geregu Power Enters Partnership With Siemens to Upgrade Power Plant to 500MW

Geregu Power Plc, signs a deal with Siemens to expand the capacity of the Geregu 1 power plant in Nigeria. The  collaboration was formalised through a Memorandum of Understanding (MoU) signed in Berlin on Wednesday, May 29, 2024, aims to enhance sustainable, resilient, and efficient power generation.

The development was contained in the company’s notice to the Nigerian Exchange Limited. The statement read thus: “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).”

Several solutions were discussed during the ceremony, part of which includes upgrading the Geregu 1 Power Plant from its current capacity of 435MW to 500MW.  There are also plans 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. And bringing Geregu Power Plc’s overall nameplate capacity to 1200MW.

The initiatives are targeted at higher power output, improved efficiency, lower emissions, higher flexibility, longer equipment life span and maximizing shareholder value through increased earnings.

According to the statement signed by the Company Secretary, Mr. Akinleye Olagbende, Chairman Board of Directors of Geregu Power Plc, Mr. Femi Otedola led the Geregu Power Plc team while Mr. Dietmar Siersdorfer, Managing Director of Middle East and Africa led the Siemens Energy Team.




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