Energy

Osinbajo’s peace building in Niger Delta paying off

Published

8 years ago

March 15, 2017

Olu Emmanuel

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Transcorp Power Commissions $28.3m Gas turbine
Targets 25% electricity generation capacity

The peace building process embarked upon in the Niger Delta by Vice President Yemi Osinbajo, then, Acting President, while President Muhammadu Buhari was on his 50 days of vacation in the United Kingdom, is gradually yielding fruit in the region. The restive youths have at the moment ceased hostilities and suspended attacks on oil and gas facilities in the zone. Thus, the Niger Delta is becoming calm and providing enabling environment conducive to investments and doing business.

Accordingly, Transcorp Power Limited, a subsidiary of Transcorp Plc, in its commitment to reinforcing the Federal Government’s efforts to boost electricity generation in the country, commissioned an 115MW Gas Turbine 15 at the Transcorp Power Limited’s Ughelli Power Plant, Dealt State, Nigeria, to increase the production capacity of the company.

National Daily gathered that the multi-million dollar turbine commissioned early this week increased the operational capacity of the plant to 620MW. The company was also said to be targeting generation of 25 per cent of Nigeria’s total power capacity before the end of the 2018.

Tony Elumelu, Chairman of Transcorp Plc, was said to have reiterated the resolve of Transcorp Power Limited to double the generating capacity of the power plant within the shortest time. According to him, considering the role power plays as a catalyst to economic and industrial growth of any nation including Nigeria, Transcorp Power Limited remains committed to finding a solution to the power problems that has constrained the development of the country and made it not to achieve its potentials. “Our goal is to increase our capacity from 620MW to 850MW with the return of three turbines by the 4th quarter of 2017,” Elumelu had said.

“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,” he further said.

Governor Ifeanyi Okowa of Delta State was at the commissioning of the project.

Babatunde Fashola (SAN), Minister of Power, Works and Housing, commissioning the new turbine, reminded the audience that even though Nigeria appears to court the international investor, the importance and relevance of the local investor to the achievement of the country’s energy agenda, can’t be overemphasized.

While appreciating the investment committed by Transcorp Power Limited, Fashola noted: “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.”