Power generating company, Geregu Power Plc, said it made advance payments of N8.783bn to Italian firm, Ansaldo Energia, for the overhaul of its gas turbine as at the end of June 2023.
This was disclosed in the unaudited interim statement of financial position of the Genco for the period ending June 30, 2023, which was filed with the Nigerian Exchange Limited.
As of December 2022, advance payment to the Italian firm was N4.616bn.
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In April 2022, Ansaldo Energia signed a three-year contract with Geregu valued at €32m to conduct a major overhaul of the 435 MW Power power plant in Ajaokuta, Kogi State, Nigeria.
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