Dangote Group, GE Signs Energy Distribution Pact

Busayo Business, Energy

inShare2 

VENTURES AFRICA – US-based independent power producer, General Electric (GE) has signed a power distribution deal with Dangote Group, Africa’s largest conglomerate, to provide aeroderivative gas turbines, a lighter weight variation that runs on a mixture of fuel and air.
The new agreement is an offshoot of the Strategic Collaboration Agreement signed last year by both companies to address infrastructural gaps in Nigeria.
GE Nigeria CEO, Dr. Lazarus Angbazo, believes the partnership has the potential to become one of Africa’s leading success stories, given the enormous challenges faced by businesses and households as a result of poor or unstable power.
Dangote Group is one of the largest diversified industrial conglomerates in Africa with interests in cement, flour, sugar and agriculture across more than
13 African nations.
Africa’s richest man and Chairman of Dangote Group, Alhaji Aliko Dangote said his company’s partnership with GE has helped to lay the foundation for fast delivery of the power needs of Dangote Group.
GE has been a sturdy partner of Dangote Group in the African market. Its advanced technologies generate a quarter of Africa’s gas power, having spent about 100 years doing business in Africa.
Its current investment in Africa includes increasing electric grid reliability during peak power demands in Algeria, generating uninterrupted power for the Nigeria’s state-owned oil refinery as well as a $1 billion investment in railway and power equipment in Angola. It recently partnered Nigeria’s local investment group, Transcorp, to run the newly acquired Ughelli Power Plant, with a target to raise generation to 1,000MW – a quarter of Nigeria’s current output – in the coming years.
The conglomerate recently committed $2 billion to boosting infrastructure in Africa by 2018 to boost infrastructure.