Forte Oil Plc and the other new owners of the Geregu Power Plant in Kogi State have invested $94 million in the plant targeting to raise its generation capacity from 414 megawatts to 434 megawatts of electricity, Vanguard reports.
This development was contained in a communiqué issued at the end of the 22nd monthly meeting of the power sector operators, hosted by the Kogi State Government in collaboration with Geregu Power Plc at Geregu Power Plant, Ajaokuta, Kogi State.
The meeting according to the communiqué, also acknowledged significant improvement of generation capability from what it was in January/March 2017, when it was constrained by gas and debts to GenCos and Gas Suppliers.
As an example of improvements in generation, it said only one out of three turbines each in Geregu I and II were running when the Honourable Minister of Power, Works and Housing visited in 2016, but now all three turbines in Geregu I are running.
Forte Oil Plc’s subsidiary, Amperion Power Distribution Company acquired Geregu Power Plant in 2013 and is made up of a consortium of Forte Oil Plc as majority holder, BSG Resources Limited and Shanghai Municipal Electric Power Company.
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