General Electric Company’s (NYSE:GE) unit, GE Vernova’s Hydro Power division, has successfully finished the installation of four 175 MW Francis hydropower turbines and generators in Nigeria’s Zungeru project. GE Vernova represents a collaborative effort between GE Digital, Renewable Energy, and GE Power, striving to develop cutting-edge technologies that harness the potential of water to provide consistent energy to major economies and remote communities worldwide.
Situated along the Kaduna River in Niger State, the Zungeru project stands as Nigeria’s second-largest hydropower plant, boasting an impressive total capacity of 700 MW. Upon its full completion, this facility is poised to meet approximately 10% of the nation’s domestic electricity demands, predominantly with sustainable and dependable energy sources. Furthermore, the project will play a crucial role in flood control and offer invaluable support for regional irrigation.
The Engineering, Procurement, and Construction (EPC) company, China National Electrical Equipment Corporation, has entrusted GE with the design, supply, installation supervision, and commissioning of the four turbine units at the Zungeru project. Additionally, the hydropower plant project has secured essential financial backing from the Export-Import Bank of China.
In terms of its price performance, General Electric’s shares have demonstrated significant growth, surging by 66.7% over the course of a year, while the industry itself experienced a 1.6% decline.
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