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Leading blue chip, Transcorp Plc, has revealed fresh plans to generate up to 25 per cent of its total power capacity before the end of the 2018 as it inaugurates new $28.3m gas turbine.
Transcorp Power Limited is a subsidiary of Transcorp Plc.
In a statement, it said the power company has commissioned its 115 megawatt (MW) Gas Turbine 15 at its Ughelli Power Plant. The commissioning of the multi-million dollar turbine brings the total operating capacity of the plant to 620MW.
The froup also noted that the gas plant would boost power generation, which has constrained the development in the country and frustrated the achievement of its potential over the years.
Group Chairman of Transcorp Plc, Tony Elumelu, reiterated the firm’s resolve to double the generating capacity of the power plant within the shortest time and assured that considering the role power plays in the economic and industrial growth of any nation, the company would remain committed to finding a solution to the power problems in Nigeria.
Elumelu added that “Our goal is to increase our capacity from 620MW to 850MW with the return of three turbines by the 4th quarter of 2017,” noting that “Our gratitude goes out to the board of directors, particularly the technical committee, our technical partners, the Transmission Company of Nigeria (TCN) and the federal government of Nigeria for believing in us as private sector investors and for providing the enabling environment”.
Minister of Power, Works & Housing, Babatunde Fashola, in his remarks, averred that the relevance of the local investor to the achievement of the country’s energy agenda, cannot be overemphasized.
Fashola said “The local investor will not run away when there is a storm. They will continue to invest because they believe in Nigeria and their efforts will be supported as much as possible by a government that shares the same belief in the nation”.
Earlier in his keynote speech, Delta State Governor, Senator Ifeanyi Okowa, commended the Transcorp Power team for the remarkable achievement, while expressing optimism that the firm would continue to improve the quality of life of all Nigerians.
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