Transcorp Power Targets 150MW Boost Amid Gas Supply Challenges, Eyes Renewable Energy Expansion
Detailed Breakdown:
The Group Chief Executive Officer of Transcorp Group, Mrs. Owen Omogiafo, has announced Transcorp Power’s plans to increase electricity generation by an additional 150 megawatts. Despite facing gas supply challenges impacting its thermal plants, the company is focused on both expanding power generation capacity and exploring renewable energy sources.
Renewable Energy Initiative
In an interview with Arise News at the Future Investment Initiative conference in Saudi Arabia, Omogiafo shared that Transcorp Power has signed a Memorandum of Understanding (MoU) with Nigeria’s Rural Electrification Agency. This partnership aims to bolster the nation’s energy sector by introducing 150 megawatts of renewable energy capacity, reducing dependence on traditional sources.
Omogiafo emphasized Transcorp’s commitment to narrowing Nigeria’s energy deficit through investment in renewables. “We are working assiduously to close the energy gap. One of the things you’ll see from Transcorp Group is our focus on increasing energy availability through investments and partnerships in renewable energy,” she stated.
Gas Supply Constraints
However, Omogiafo highlighted significant constraints posed by Nigeria’s current gas supply issues, affecting the company’s ability to reach its full generation potential. Transcorp’s Afam power plant in Rivers State has an installed capacity of 301 megawatts but is currently only producing around 100 megawatts due to limited gas availability.
Omogiafo pointed out that Nigeria’s electricity generation capacity stands at approximately 13,000 megawatts, though only 5,000 megawatts are currently being delivered. She stressed the need for an “integrated gas-to-power strategy” that could optimize the nation’s capacity and help unlock Africa’s energy potential.
Detailed Breakdown:
The Group Chief Executive Officer of Transcorp Group, Mrs. Owen Omogiafo, has announced Transcorp Power’s plans to increase electricity generation by an additional 150 megawatts. Despite facing gas supply challenges impacting its thermal plants, the company is focused on both expanding power generation capacity and exploring renewable energy sources.
Renewable Energy Initiative
In an interview with Arise News at the Future Investment Initiative conference in Saudi Arabia, Omogiafo shared that Transcorp Power has signed a Memorandum of Understanding (MoU) with Nigeria’s Rural Electrification Agency. This partnership aims to bolster the nation’s energy sector by introducing 150 megawatts of renewable energy capacity, reducing dependence on traditional sources.
Omogiafo emphasized Transcorp’s commitment to narrowing Nigeria’s energy deficit through investment in renewables. “We are working assiduously to close the energy gap. One of the things you’ll see from Transcorp Group is our focus on increasing energy availability through investments and partnerships in renewable energy,” she stated.
Gas Supply Constraints
However, Omogiafo highlighted significant constraints posed by Nigeria’s current gas supply issues, affecting the company’s ability to reach its full generation potential. Transcorp’s Afam power plant in Rivers State has an installed capacity of 301 megawatts but is currently only producing around 100 megawatts due to limited gas availability.
Omogiafo pointed out that Nigeria’s electricity generation capacity stands at approximately 13,000 megawatts, though only 5,000 megawatts are currently being delivered. She stressed the need for an “integrated gas-to-power strategy” that could optimize the nation’s capacity and help unlock Africa’s energy potential.