US electric company, General Electric (GE) and Nigeria’s Geometric Power Limited, have signed a joint development agreement for the building of a 450 Mega Watts power plant in Aba, the commercial hub of Abia State at a cost of $500 million.

The agreement which was signed in Abuja on Thursday, by the chief executive officers of the two companies, states that the 450 megawatts power plant will be completed in three years.

The chief executive of Geometric, Professor Barth Nnaji, who was Nigeria’s former Minister of Power, described the agreement as a demonstration of GE’s commitment to working with local players in growing Nigeria’s power sector.

By this agreement, GE is initiating a full realisation of its plan to work with Nigerian companies in building up to 10,000 MW of power in Nigeria.

The CEO of GE, Me Jeff Immelt, was present at the event and signed on behalf of the company.

Geometric Power Limited, a pioneer private sector provider of electricity in Nigeria has completed several major power projects in the country, including the 140 MW power plant also in Aba. This has reportedly improved the electricity distribution network with new substations and power lines to the commercial city.

Professor Nnaji noted that the focus remains power development and investment in projects that have economic and social value within communities.

For the full realisation of this project, the team will employ GE technologies and the project is expected to be the first of other power projects to be jointly developed by GE and Geometric Power Limited.

http://www.channelstv.com/home/2013/01/31/ge-and-geometric-power-to-build-450mw-power-plant-in-aba/

My Prof. God will bless u sir.

We knew he was capable. He does not need to buy Egbin plant or any other phcn company to succeed in the sector. Prof, you had it in you before you became minister, and you still have it after. Ride on!