Fidelity bank banner Bayelsa State banner
Transcorp, GE partner to improve power generation in Nigeria

By News Express on 31/01/2014

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 6,828


LAGOS, Nigeria, January 31, 2014/African Press Organization (APO)/ Transcorp Ughelli Power Ltd (TUPL), the power subsidiary of Transnational Corporation of Nigeria Plc (Transcorp), and General Electric (GE) have signed an agreement to expand the capacity of TUPL’s Ughelli power plant by1000MW over the next 3 to 5 years.

Both parties have also signed a separate agreement to rehabilitate the damaged GT 15 turbine at the Ughelli plant, which will add 115MW to the plant’s output.

Currently, the Transcorp Ughelli power plant generates 360MW of electricity, up from 160MW on November 1, when Transcorp took ownership of the plant. With the additional 115MW, as well as other rehabilitation works planned at the plant, output at Ughelli will increase to 700MW by December 2014.

The Ughelli power plant is Nigeria’s largest gas-fired electricity generation asset. Purchased by Transcorp during the 2013power privatization programme, the $300 million plant is part of the $2.5 billion investment pledge made by the Chairman of Transcorp and Heirs Holdings, Tony O. Elumelu, CON, to deliver affordable, accessible power to Africa under the Power Africa Initiative. Heirs Holdings, Elumelu’s pan-African proprietary investment company, is Power Africa’s largest private sector investor and a major investor in Transcorp.

The agreements were signed at a closed door meeting between executives of both companies, led by Elumelu and the Global Chairman of General Electric, Jeffrey Immelt. They follow a cooperation agreement executed by Transcorp and GE in 2013.

Commenting, Elumelu said, “We are very pleased to work with GE, a proven world leader in power technology development, on the Ughelli plant expansion project. With this, we’ve taken a bold step in fulfilling our promise to Transcorp’s stakeholders and the people of Nigeria. In a very short period of time, we have achieved significant impact – power production has more than doubled, and with this agreement, we will see increased output before the end of this year. We are confident that this partnership with GE will further accelerate the achievement of our goals in the power sector.”

Immelt said, “GE fully appreciates the confidence expressed by Transcorp. We are happy to bring the considerable resources of GE to support Transcorp’s audacious vision for Nigeria’s Power industry. This partnership with Transcorp underlines GE’s deep commitment to developing the Nigerian power sector.”

A publicly listed conglomerate with strategic investments in the power, hospitality, business and energy sectors, Transcorp, through TUPL, is committed to transform and bring the plant to profitability by increasing its generating capacity to impact positively on the socio-economic development of Nigeria.

GE, one of the world’s most reputable companies is the global leader in the design, manufacture, supply, installation and maintenance of technology and services for the Power, Aviation, Oil & Gas, Healthcare and Transportation sectors.

•Photo shows Transcorp and Heirs Holdings Chairman, Tony O. Elumelu.

Source News Express

Posted 31/01/2014 5:54:10 PM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
200 clerics enlisted for religious war against Boko...

Police capture 20 suspected Zamfra bandits, recover arms...

Business owners lament risk of doing business in...

More blood flows over anti-Islam film

Retired Colonel bags 7 years imprisonment for fraud...

Gunmen kill 160 in Zamfara, abduct 10 women...

Clouds, rains and sunshine to dominate today’s weather...

Court strikes out Obanikoro’s N100m suit against EFCC...

Trying times for UNILAG

BREAKING: Meningitis kills over 40 in Jigawa

2019: Niger APC stakeholders reaffirm their support for...

Niger declares state of emergency on roads

 

Latest News Buhari’s biggest hurdles ahead 2019 polls PDP shops for consensus presidential candidate Battle for Saraki’s seat hots up Ohanaeze warns IPOB, urges Ndigbo to intervene Oyo 2019: Political heavyweights regroup under Obasanjo’s ADC to unseat APC Investors lament woes in Lagos Free Zone Uproar as Satan worshippers unveil statue in America Baby with brain tumor recovers miraculously after kiss from Pope Francis Love struck 98-year-old man walks 6 miles each way daily to visit paralysed wife in the hospital Okowa calls for collective efforts to check irregular migration Kofi Annan’s death a loss to Africa and the entire world, says Bola Tinubu Magu’s Chief of Staff not under investigation — EFCC

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (378,720 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (367,225 views) Shameless Genevieve Nnaji exposes breasts in public (296,979 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (242,348 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (223,281 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (217,455 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (193,004 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (175,207 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (159,905 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (158,736 views) Lagos plane crash: Journalist releases victims’ names (153,031 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (143,316 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (56) Business & Economy (3,462) Business Verdict (48) Columnists (912) Complaints & Requests (95) Enterprise & Opportunities (207) Entertainment (528) Features (640) Global Business Monitor (295) International (2,278) Interview (162) Live Commentary (28) Love Matters (135) News (38,135) Opinion (1,061) Pidgin (11) Politics (6,096) Religion (826) Sports (1,650) Stock Watch (33) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

Real Madrid vs Atletico Madrid 2-4 Highlights and Goals

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement