The Geregu plant is a 414MW gas plant (3 x 138MW, Open Cycle gas turbines) located in Geregu, near Ajaokuta in Kogi State. Its expected productivity is 90%. The plant was commissioned in 2007 and was meant to boost electricity generation in the country.
In 1999, the FGN began an aggressive restructuring of the power sector with several aims, including introduction of efficient, private sector standards and management principles, and methodology, leading to reliable power.
In 2001, the FGN approved a National Electric Power Policy (NEPP), followed in 2005 by the Electric Power Sector Reform (EPSR) Act. EPSR Act provides the legal authority for the unbundling of Nigeria’s power utility as well as the introduction of a new, regulatory scheme managed by the Nigerian Electricity Regulatory Commission (NERC), an independent regulatory commission, to guarantee open access and ensure efficiency throughout the industry.
Outright sale option was adopted by the Bureau for Public Enterprises in the sale of Geregu phase I which was culminated on the 1st of November 2013. The new owners are Amperion Power Ltd.