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Geometric Power, GE to construct 1,080mw power plant

Geometric Power is to build a 1,080 megawatt power plant jointly with General Electric, with the first phase of the project generating 500mw expected to be completed in 2019 at a cost of $800 million, Reuters reports.

Geometric Power CEO, Bart Nnaji said the firm had also appointed London-based Standard Chartered Bank as financial advisers for the first phase of the plant.

“We have a 1,080 megawatt project … (in partnership) with General Electric. The power goes to the national grid. What we are doing is to build up power projects in this way,” Nnaji, a former Nigerian minister of power, told Reuters late on Tuesday on the sidelines of a power conference in Lagos.

Nnaji said the firm was in discussions with some Chinese, European and U.S. investors and expected financial close by year-end. Construction would start early next year.

Geometric Power, which has a 141 megawatt captive power for industrial use in Abia State, said the new plant would also be located in Abia State, southeast Nigeria.

Source : energymixreport.com/
Posted On: 6/20/2015 12:00:00 AM

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