Bart Nnaji’s Geometric Power to build 1,080MW plant


Barth Nnaji
LAGOS, (Reuters) – Nigeria’s Geometric Power will build a 1,080 megawatt power plant jointly with General Electric , with the first phase of the project generating 500 MW expected to be completed in 2019 at a cost of $800 million.
Geometric Power CEO, Barth Nnaji said the firm had also appointed London-based Standard Chartered Bank as financial advisers for the first phase of the plant.
Africa’s biggest economy broke up its monopoly on power generation and distribution by privatising the sector two years ago, hoping to attract foreign investors, but the amount of power produced has stagnated at around half total …Read More

Source:: PM Newspaper