[size=14pt]Genesis, Nigerian firm, lights up African countries[/size]
By Crusoe Osagie, 09.10.2008
Wednesday, September 10, 2008

While the majority of Nigerian power projects are awarded to companies with foreign origins and its Independent Power Projects (IPPs) still enmeshed in controversies, a company by a Nigerian is championing the execution of power projects in neighbouring African countries.



The company, Genesis Electricity, THISDAY gathered, has successfully completed various projects both in the area of power and infrastructure development in Guinea Bissau as well as Sao Tome and Principe.

The company, which is led by a Nigerian, Mr. Bruno Nwankwo in joint venture with the government of Guinea Bissau, completed a 10 MW IPP for the country’s capital city, Bissau.

In Sao Tome and Principe, THISDAY learnt, the company carried out electricity production for the country on a 10-years exclusivity basis, with the first phase of the IPP almost completed and due for inauguration in mid- November 2008.

Genesis is also embarking on the construction of a 100MW IPP along with several other development projects.

The company prides itself as the African Power Company to undertake an energy investment representing the entire value-chain of power generation, distribution, billing and metering, as well as revenue collection.

THISDAY learnt that Genesis Electricity is a shareholder in an Energy Company Headquartered in Scotland, CESS UK, a company that boasts of one of the largest inventories of power plants in the world, parading brand new, refurbished projects all completed in time and on budget.

Genesis Electricity has partnered very strong financial institutions in delivery on its investments plans all over Africa.

The company has developed very strong and strategic partnerships with world-renowned energy companies, thereby tapping into enviable experiences, technical and financial competences, and enabling the company to undertake large and diverse energy businesses.

It is owned by both African and foreign shareholders, and claims to practise the strictest form of corporate governance principles.

The firm has also conducted various consulting services for both public and private clientele, in areas of power plant studies, renewable energy deployment, electricity distribution and revenue collections, and is currently looking to provide similar services to African financial institutions who are now warming up to funding the emerging and emerged opportunities within the African power sub-sector.

The promoters of Genesis Electricity were the pioneers of Independent Power Production in Africa by Africans, where they committed huge resources to investments in the sector, at a time power business was regarded as unprofitable and unthinkable.


http://odili.net/news/source/2008/sep/10/205.html

A prophet ain't got no recognition at home.

Especially when that prophet na Igbo man

Especially when that prophet na Igbo man

Lol, i didnt even notice that. How did you conclude that the company is 100% ibo owned?

Why can't we have up to 300 energy companies in Nigeria like the way they have it in the US?