Release
Genesis Electricity Ltd. (GEL) was recently named African Power Utility of the year at the Africa Utility Week announced at the International Convention Center in Cape Town, South Africa.
The annual award is selected by an independent panel of judges based on the nomination of Power Utilities in Africa that excel in any one or more of the following fields: Service delivery, project roll-out, technology roll-out, revenue protection measures, loss reduction, grid integration and new energy sources.
Alongside GEL, finalists nominated in this category were: Copperbelt Energy Corporation, Kenya Electricity Transmission Company and ZESCO Limited of Zambia.
Genesis was recognized for its multiple projects deployment in a few countries in Africa over the past nine years, particularly for the development of the 84MW Off-Grid Gas-fired power plant at the Nigerian National Petroleum Corporation owned Port Harcourt Refinery Complex (PHRC) in partnership with General Electric and Engro Corporation: the PHRC being largest refinery in Sub-Sahara Africa, at 210,000 Barrels/day of Crude Oil processing capacity.
It is estimated that almost 50% of Nigeria’s Gasoline, Diesel oil, Kerosene and other refined products requirements can be met by the PHRC when operating at full capacity, and thus significantly reducing the huge petroleum products importation bills currently being incurred by the Nigerian economy.
Reliable, qualitative and competitive power supply to the PHRC has been one of the critical factors affecting efficient operations of the refinery, leading to loss in substantial revenues that would have been earned from sale of refined products from the refinery, and the resultant greater loss continuously incurred as a result of the prohibitive huge petroleum products importation bills hammering Nigerian economy.
Technical description:
* The 84 MW Off-Grid/Captive power project is delivered on a fast-track basis of 8months commencement of construction and consists of 3 units of 28MW GE Gas Turbines now being installed on site;
* 100% privately funded investment project on the back of a 20year Power Purchase Agreement (PPA) between GEL and NNPC;
* The project has attracted foreign direct investment from GE (USA) and Engro PowerGen (Pakistan);* The 84MW power plant has natural gas as primary fuel for electric power production, and Diesel oil as back-up, in the event of gas supply shortages;
* The 3 x 28MW units guarantees reliable power supply to the refinery, given that the refinery requires just one gas turbine unit to meet all its needs whilst the other 2 units serves as triple redundancy back-up in the event of shutdown of the first unit;* The tariff contracted under the project is one of the lowest in the Country (and indeed West Africa), trailing behind the tariff paid by the private customers in Nigeria.
Profit maximization is thus not the key motivating factor for Genesis in driving this project to positive outcome.
Genesis Electricity in a statement by Communication Director, Desiree McNabb said that the positive multiplier effect on the Nigerian economy when Port Harcourt Refinery is operating at its full capacity engendered through the provision by Genesis and partners of qualitative, reliable and competitively priced power supply to the refinery is simply enormous, including but not limited to substantial reduction of $Billions worth of petroleum importation bills, job creation for skilled, semi-skilled and unskilled labor, excess power supply to the local distribution network, potential increased value of the Naira and improvements in the country’s Balance of Trade due to huge reduction in petroleum products importation bills.
Company CEO, Akinwole Omoboriowo II who has been listed amongst 60 Most Influential Figures in East &West African Power in ESI Africa 2014) added that “We at Genesis Electricity Ltd (GEL) are elated, and indeed humbled by so great an honor to be recognized with an award of such magnitude. We congratulate the Federal Government of Nigeria for creating and fostering a vibrant enabling environment for the Power Sector in Nigeria, and for granting us the opportunity to invest in the construction of the 84MW Off-Grid Electric power supply solution to the largest complex refinery in Sub-Sahara Africa: the Port Harcourt Refinery Complex.
We would like to dedicate the award to the loyal and tireless workforce of Genesis, our faithful customers and the company’s anchor customers: it is because of their sustained commitment beyond the call of duty, and their vigorous dedication that we have taken these few positive "baby steps" in pursuit of our Vision of lighting up Africa…. one community at a time!”
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