Geregu Power Plc
NNSENG:GEREGU825.70
NGN
0.00
(0.00%)
Geregu Power Plc
NSENG:GEREGU
(Nigerian Stock Exchange)
Recent
price
825.70
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div
yld
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ROIC.AI
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- Business
- Geregu Power Plc is a Nigeria-based independent electric power generation company engaged in the generation, transmission, and wholesale supply of electric energy to the Nigerian electricity supply industry. The company operates a thermal power generation plant equipped with Siemens gas turbine units located in Ajaokuta, Kogi State, Nigeria, and transmits bulk electric power to the National Grid operated by the Transmission Company of Nigeria. Its core portfolio of products and services comprises the generation and delivery of high-voltage electric energy; the provision of wholesale power capacity under long-term power purchase agreements with the Nigerian Bulk Electricity Trading Plc and bilateral commercial off-takers; the supply of grid ancillary services, such as frequency response, spinning reserves, and voltage control; the procurement and management of natural gas feedstock for thermal power production; and the technical maintenance, inspection, overhaul, and rehabilitation of gas turbine generation assets and balance-of-plant systems. Geregu Power Plc operates within the power and utilities sector, serving distribution companies, commercial and industrial eligible customers, and the national grid network across Nigeria. Established in 2006 and subsequently acquired during the national power privatization program in 2013 as a subsidiary of Amperion Power Distribution Company Limited, the company is headquartered in Lagos, Nigeria. In recent strategic developments, Geregu Power Plc completed its listing by introduction on the Main Board of the Nigerian Exchange, becoming the first power generation company listed on the national exchange. The company also secured strategic equity investment from the Fund for Export Development in Africa, a subsidiary of the African Export-Import Bank, to support long-term capital expansion. Furthermore, the company has executed multi-billion Naira debt financing programs to fund major overhauls of its Siemens gas turbine fleet, advanced technical collaboration with Siemens Energy for plant optimization, progressed plans to expand its total generation capacity beyond 1,000 megawatts via combined-cycle gas turbine conversion, and expanded direct bilateral power purchase agreements with industrial consumers under the reformed Nigerian Electricity Act framework.