GE Delivering On 10,000MW Power Sector Commitments To Nigeria – CEO

GE Delivering On 10,000MW Power Sector Commitments To Nigeria – CEO

General Electric (GE) has stated that it is delivering on its commitments to collaborate with the federal government, investors and private sponsors of projects to ensure the realisation of 10,000 megawatts of incremental power in Nigeria, in line with the power Memorandum of Understanding (MoU) signed with the federal government in March 2012, ThisDay reports.

Speaking to select journalists in Lagos at the weekend, the President and Chief Executive Officer of GE’s Grid Solutions/Energy Connections, Africa, Dr. Lazarus Angbazo stated that even though governments and parties have changed in Nigeria, the needs of the country have remained the same.

Angbazo further clarified that his company did not commit to invest $10billion in the power MoU signed at the Nigerian High Commission in London in March 2012 but to collaborate with government and other investors, as well as project sponsors, to deliver 10,000MW of incremental power.

The GE CEO, who lauded the federal government’s efforts to encourage private investors in the power sector, also identified the challenges facing the implementation of power projects in Nigeria to include; difficulties in securing PPAs, irregular gas supply and dilapidated grid infrastructure among others.

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