Geometric Power has sealed a $514 million deal at the ongoing Africa Investment Forum (AIF) in Marrakech, Morocco.
The Nigerian firm is one of the 10 organisations whose deal was signed at the event. According to the AIF, deals worth a total of $4.2 billion was signed at the event with Canal Sugar Project sitting on top with a $973 million deal.
Geometric Power has over six projects running in Nigeria. The projects, according to the firm’s website, are Oma Power, Quad Power, APLE, Aba IPP, Abuja Emergency Power Station and GP Solar.
In July, Bart Nnaji, the Chairman of the company, said Geometric Power plant has concluded plans to come on stream, adding 188 megawatts (MW) of electricity to Nigeria’s output this year.
He said starting with one of its four General Electric brand turbines, the second will come on stream once the performance of the first turbine is declared satisfactory by the team of engineers led by KSE Energy of Turkey and Ben Caven, a former executive director of the National Electric Power Authority (NEPA) reputed to be the only person to have run the generation, engineering and transmission divisions of the state-owned utility.
He continued: “The generation of electricity from the Geometric Power plant will be a game changer in the socioeconomic development of not just Aba city but nine out of the 17 local government areas in Abia State serviced by Aba Power, a member of Geometric group.
“We have completed building four brand new power substations and refurbishing three substations inherited from the Power Holding Company of Nigeria (PHCN), in addition to providing thousands of kilometres of cables and wires, as well as world-class tubular poles available in only highly industrialised cities such as Tokyo in Japan and San Francisco in California.”
According to the Chairman, all that remains is to provide fuel or gas to the Geometric Power plant through the 27-kilometre gas pipeline from Owaza in Ukwa West LGA in Abia State to the Osisioma Industrial Layout.