Geregu Power Plc is a corporate entity incorporated under the laws of the Federal Republic Nigeria on November 10 2006, as one of the unbundled companies from the defunct PHCN with the sole interest of electricity generation through the use of gas Turbines.
The Company started operations in 2007 with GT 13 and was officially commissioned by the former President, Chief Olusegun Obasanjo in February 2008.
The Plant is an Open Cycle Gas Turbine Power Plant, with total installed capacity of 414MW at commissioning comprising of Siemens SGT5-2000E 3 x 138MW V94.2 Gas Turbines using natural gas viz:
ACQUISITION OF GEREGU POWER PLC
The Company was privatized on November 1 2013 after its acquisition by Amperion Power Distribution Company Limited, (a subsidiary of Forte Oil Plc).MANAGEMENT STRUCTURE
The Management Team of the Company is headed by the Managing Director/CEO-Engr. Adenuga A-Fnse. He sees to the day to day running of the Company and reports to the Board on regular basis.BOARD OF DIRECTORS OF GEREGU POWER PLC
1. Femi Otedola- Chairman
2. Akin Akinfemiwa
3. Chritopher Adeyemi
4. Doron Grupper
5. David Granot
6. Adeyemi Adenuga
7. Okoh Alex- BPE Representative
AUDITED ACCOUNTS FOR 2017, 2016, 2015 & 2014 FOR GEREGU POWER PLC
Audited 2017 Accounts
Audited 2016 Accounts
Audited 2015 Accounts
Audited 2014 Accounts
After the takeover of the Company in November 2013, it became absolutely necessary for the plant to be overhauled, as this was not done prior to its privatization and this resulted in the Units exceeding Equivalent Operating Hours(EOH) specified by the Original Equipment Manufacturer(OEM),Siemens. The new owner injected a staggering sum of 94MillionUSD to carry out the Major Overhaul and Upgrade of the plant and this was successfully completed in September 2016, by SIEMENS AG. This massive investment has brought the installed capacity of the plant from 414MW at handover to 435MW at present, with potentials for future growth, and development.
Geregu Power Plc is located along Itobe-Ajaokuta expressway,Ajaokuta-Kogi state,North Central region of Nigeria.MARKET ANALYSIS
1) Electricity Production
2) Natural Gas is the primary raw material for the production of electricity
3) Raw material (Gas) is demanded and supplied by Seplat Petroleum Development Plc and Nigerian Gas Company
4) 100% Local Content.
5) Electricity Consumers are our target market. .
The process of production is the conversion of chemical energy inherent in the natural gas by combustion into heat energy by the turbine for creation of torque to drive a shaft which is attached to the generator that rotates at 50 cycles per minute to produce electricity.
High flue/exhaust gas temp.540 deg cent.
SHARE HOLDERS Ownership structure of the company in accordance with Shareholders Agreement is shown below;
|As at November 1, 2013||Current||As at November 1, 2013||Current|
|1||Amperion Power Distribution Company Limited||Amperion Power Distribution Company Limited||51%||51%|
|2||Bureau of Public Enterprise||Bureau of Public Enterprise||39.2%||39.2%|
|3||Ministry of Finance Incorporated||Ministry of Finance Incorporated||9.8%||9.8%|