Geregu Power Plc recently published its Financial Statement for the year ended 31 December 2021 on NGX.
The power generation company reported a turnover of N70.957 billion for the 12 months period, up by 32.19% from N53.677 billion reported the previous year.
Profit after tax of N20.55 billion was declared for the period under review, up by 45.49% from N14.13 billion reported in FY 2020.
Earnings per share of the Company for FY 2021 stands at N8.22, up by 45.49% from the EPS of N5.65 achieved the previous year.
At the share price of N120.90, the P/E ratio of Geregu Power Plc stands at 14.71x with earnings yield of 6.80%.
Geregu power Plc is a power generation company registered and domiciled at Itobe – Ajaokuta Express Road, Ajaokuta, Kogi State and its corporate office is situated at 13 Walter Carrington Crescent Victoria Island, Lagos, Nigeria.
The Geregu Power Plant was constructed by the Federal Government of Nigeria and commissioned into service on the 16th February 2007 to generate electric power and supply to the National Grid managed by the Transmission Company of Nigeria (TCN).
The Plant is owned and operated by Amperion Power Distribution Company Limited holding an 80% stake and 20% retained by Federal Government of Nigeria (jointly held by Bureau of Public Enterprise and Ministry of Finance Incorporated).
The power plant consists of three simple cycle natural gas fired SIEMENS V94.2 STG5-2000E gas turbine generator units with a 435MW Installed Capacity. The Turbine units are GT11, GT12, and GT13 and each is designed to produce 145 MW at 15.75KV, stepped up to 330kV via a 173.6MVA Power Transformer and now generates on average Ten (10%) percent of Nigeria’s power.
Natural gas is transported by Nigerian Gas Company (NGC) from SEPLAT via a 135km, 24” underground pipeline in the Niger Delta at 35bar pressure and reduced to 25bar operating pressure. The plant supplies power directly to the national grid via the Transmission Switchyard. The national grid serves as a “power pool” to which all the power plants and load centres are connected.
The name Geregu is derived from the host community of the power plant located in Ajaokuta Local Government Area of Kogi State in the North Central area of Nigeria.