Gigajoule (GIGJ)

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.

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What is Gigajoule

Gigajoule is an electricity energy solution that is premised on the Floating Power Plant. By combining state-of-the-art technologies from other mature industries, we make possible the supply of electrical energy to millions of people currently without access to power.

Gigajoule is going to deploy a natural gas powered solution known as a “Floating Power Plant”, based on a technology developed by Siemens.

What problem do we solve?

Today, it is estimated that up to 2 billion people worldwide do not have access to electrical power, a figure that is increasing year after year. This problem is more acute in countries like Nigeria, where only 45% of the population has electricity, and those who have it do so at a high economic and environmental cost, mainly due to the widespread use of diesel and petrol for operating small generators.

How do we solve it?

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.