ICO Gigajoule
ICO Gigajoule Description:
Gigajoule Floating Solutions is an electricity generation company. It creates fully operational, gas-based power plants, floating on barges. It uses proven technologies together with Internet of Things (IoT) and blockchain technologies to ensure the highest standards of quality and efficiency. This takes a fraction of the time required for traditional land-based plants, yet rivals or surpasses them in efficiency, reliability and cost.
Gigajoule will deploy their Floating Power Plants (FPP) in 3 different Nigerian locations close to existing gas supply and transmission infrastructure in Delta, Anambra & Cross River States. Each of the 3 projects will supply electricity to the Nigerian Government for a renewable term of 20 years, within the framework of the Nigeria Electricity Regulatory Commission.
A Partial Risk Guarantee, provided by MIGA of the World Bank, ensures the obligations of the Federal Government to pay for installed and utilized capacity throughout the lifespan of the Power Purchase Agreement (PPA). Finally, production capacity is underwritten by Siemens for the life of the project.
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