Former Minister of Power, Barth Nnajihas said his company 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.
According to Reuters, the firm was in discussions with some Chinese, European and U.S. investors and expected financial close by year-end. Construction would start early next year.
“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,”
Geometric Power, which has a 141 megawatt captive power for industrial use in Abia State, said the new plant would also be located in Abia State, southeast Nigeria.