African Export-Import Bank has signed a US$50 million Term Loan facility with Geometric Power Limited in connection with the Aba Integrated Power Project in Nigeria. The deal was signed on November 15, 2021, in Durban during the second Intra-African Trade Fair (IATF 2021).
The facility provided by Afreximbank to Geometric Power Limited will finance the initial capital required to acquire rights to the Aba Ring Fenced Area. It will also support the completion of remaining works, and the commissioning and commencement of operations of the Aba Integrated Power Project in Southeastern Nigeria.
The Aba Integrated Power Project is a fully integrated generation and distribution utility located in Osisioma, Aba, Abia State, in Nigeria. It is comprised of a gas-fired embedded power plant with General Electric Gas Turbines, with an initial capacity of 141 MW, to be upgraded to its licensed 188 MW capacity. The power plant will be owned and operated by the generation arm of the utility, Geometric Power Aba Limited.
