A former Minister of Power and Chief Executive Officer of Geometric Power Limited, Prof. Bart Nnaji, has stated that his company and General Electric would jointly build 1,080 megawatt power plant to be located in Abia State. Nnaji told Reuters on the sidelines of West African Power Industry Convention (WAPIC) in Lagos that the first phase of the project that would generate 500 MW would be completed in 2019 at a cost of $800 million.
He 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," he said. Nnaji said the firm was in discussions with some Chinese, European and US investors and expected financial close by year-end. Construction would start early next year.
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