Geregu Power Plc, indigenous power generation solutions provider, has signed a Memorandum of Understanding (MoU) with Siemens Energy to jointly develop solutions for capacity expansion at the Geregu 1 power plant.
The deal which is aimed at ensuring sustainable, resilient, and efficient power generation while safeguarding the longevity of assets, all targeted at supporting the growth and sustainability of the Nigeria Electricity Supply Industry (NESI) was disclosed in a notice by Geregu Power Plc to the Nigerian Exchange Limited.
“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 notice read.
“The initiative is to safeguard the longevity of assets aimed at supporting the growth and sustainability of the Nigeria Electricity Supply Industry (NESI)”.
According to the notice, the deal includes “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.”
“The initiative aims 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,” it added.
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