Yemisi Izuora
Geometric Power which has established a 141 megawatt captive power for industrial use in Aba, Abia State is collaborating with General Electric to build 1,080 megawatt power plant.
The plant is to be located in Abia State.
Prof. Barth Nnaji who confirmed the development at the West African Power Industry Convention (WAPIC) in Lagos said 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.