Geregu Power Plc, a listed power generation company in Nigeria, has reported an 84.7 percent increase in its earnings in the second quarter (Q2), driven by a surge in energy sales.
The company’s revenue surged to N55.8 billion, from N30.2 billion reported in the same period last year, with 64.1 percent of the total amount from energy sales.
A breakdown of the total revenue made during the period revealed that energy sold rose to N35.8 billion, while the capacity charge rose to N19.9 billion.