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.
Electricity is a cornerstone to any country’s
growth and potential
An estimated 2 billion people worldwide do not have access to electrical power, and this figure is increasing. In countries like Nigeria, despite the abundance of natural gas as feedstock, less than half of the population has access to stable electricity supply.
Even where electrical transmission systems do exist, many developing countries rely on costly and inefficient substitute power generation systems. These have negative impact both on the environment and on sovereign finances and budgets as governments often need to apply subsidies to make them affordable.
Floating Power Plants (FPPs)
Natural Gas as Feedstock
Siemens SGT-A65 Gas Turbines
Gigajoule uses the Siemens Trent turbine as its primary power unit. At its core is the same Rolls-Royce engine that is found on the Boeing 777 and Airbus A380 aircraft, providing enhanced reliability for long-range flights and maximum passenger capacity. The Siemens Trent gas turbine is assembled in a modularised package with a Brush generator, to form the SGT-A65 generator set.
The use of Rolls-Royce engines for electrical power plants represents successful technology transfer and benefits from more than 30 years of development and billions of dollars of research.
The SGT-A65 also benefits from a long operating life of 50,000 hours (approx. 6 years). Turbines can then be switched out for a replacement in under 72 hours. The cost of this “as new” recurring operational capacity is incorporated in O&M costs.
The Siemens technology package includes comprehensive O&M and performance guarantees, resulting in maximum reliability and efficiency.
An FPP has unique economic, social and environmental features that make it an optimal source of electric energy.
Floating power plants that use SGT-A65 engines have several important advantages:
The Siemens Trent gas turbine is assembled in a modularised package with a Brush generator, to form the SGT-A65 generator set, complete with intake duct and exhaust stack. The system is fully automated. Each SGT-A65 has a generating capacity of 66 MW.
Siemens Operating, Maintenance and Performance warranties ensure a twenty-year average of operational ability of not less than 95%.
The SGT-A65 is an aeroderivative gas-powered turbine. Its start-up time is very fast, at less than 10 minutes, and it can tolerate frequent stops and starts. This stop-and-go capability is particularly effective in balancing out energy load fluctuations.
The SGT-A65 can provide base-load power both to electrical grids and to industrial applications.
Gigajoule is ready to implement three projects of 528MW each at various sites in Southern Nigeria, in close proximity to gas supply and electricity evacuation infrastructure.
Project funding is achieved by utilizing the following credit enhancements:
This amounts to over 1500MW installed capacity at a project cost of US$1.4bn (net) which is externally financed.
An security token offering (STO) will be conducted to finance the implementation of the Gigajoule project. A digital token named the Gigajoule (GIGJ) will be issued on the Polymath network.
In contrast with most ICOs and IEOs, the GIGJ token will not be a simple utility token, exchangeable for goods or services to be produced in the future. Rather, the GIGJ token is structured as a security: token holders will benefit from the success of the project.
GIGJ token holders will be entitled to receive an annual dividend of 15% of the profits generated by the Gigajoule project, in proportion to their number of tokens.
|Standard Price||USD 1.00|
The initial coin offering shall be divided into two general stages: a private pre-sale and an STO public sale. Discount incentives shall be applicable according to the following table:
|STO (Round 1)||3,000,000||20%||$0.80|
|STO (Round 2)||3,000,000||15%||$0.85|
|STO (Round 3)||3,000,000||5%||$0.95|
IEO Public Sale - Jan 2020.
Engagement with Siemens and Appledore Shipyard for the final design and construction commencement of first 2 floating power plants.
Secure funding underwritten by the Multilateral Investment Guarantee Agency (MIGA) and Siemens performance warranty.
Finalize Power Purchase Agreement with Federal Government of Nigeria plus all other construction and operating agreements for the implementation of the first project.
Lenders ready to advance first funds for project constructions.
Implement the construction disbursement, administration and control procedures.
Appledore shipyard and Siemens start the manufacture and construction of the floating power plants within 15 months.
Floating power platforms to be loaded onto heavy lift ships and, within a month, shipped to the closest deep-water position offshore the lagoon or river from which the move to final installation will take place in Nigeria.
Commissioning and handover.
Electrical power supply commences and continues for the next 20 years, under Power Purchase Agreement with the government of Nigeria.
Power Purchase Agreement finalizes. Potential extension of the Agreement for another twenty year term with the same assets, would be negotiated with Nigerian Government.