GTB 737 banner Yudala 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

Views: 5,233


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


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
Editor killed in Onitsha

DR Congo cracks down on mercenaries

Churches drag el-Rufai to court over regulation of...

Soldiers holding us and our monarchs hostage —Ijaw...

Governorship battle: Uduaghan floors Ogboru again at Supreme...

AU approves 7,500 troops to confront Boko Haram...

2015: Wike unfit to govern Rivers —Group •Writes...

Med-View Airline expands, raises capital

Facebook expands video offerings, eyes TV market

BREAKING: 17 reported dead in Burkina Faso terrorist...

NNPC drops hint of fresh increase in fuel...

Transcorp committed to significantly increasing power generation in...

 

Latest News Saraki: Limit and burden of arrogance, By Abdulrazaq Magaji As APC ‘brings’ order from chaos Buhari resumes work; meets Osinbajo, service chiefs Buhari’s return has nothing to do with protests — Garba Shehu APC welcomes back Buhari, vows to fulfill electoral promises Chidoka sweeps to victory as Anambra UPP guber primary claims life Stoke sinks Arsenal in EPL duel, Man United hit four again Rain of tears, eulogies as Ex-Governor Suntai is laid to rest FRSC names GOCOP as partners for 7th Annual Lecture South African minister who assaulted woman resigns News Express delegation visits Aso Rock Villa, briefs Presidential Spokesman on activities to mark 5th Anniversary BREAKING NEWS: Buhari lands in Abuja, performs first official duty

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (271,981 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (253,893 views) Shameless Genevieve Nnaji exposes breasts in public (206,294 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (174,330 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (172,988 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (154,605 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (133,835 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (125,043 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (117,896 views) Lagos plane crash: Journalist releases victims’ names (109,351 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (108,648 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (101,215 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,661) Business Verdict (19) Columnists (728) Complaints & Requests (92) Enterprise & Opportunities (172) Entertainment (351) Features (476) Global Business Monitor (170) International (1,494) Interviews (128) Live Commentary (28) Love Matters (67) News (27,576) Opinion (781) Pidgin (8) Politics (3,857) Religion (595) Sports (1,306) Stock Watch (23) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN words on marble advert

 

 

Senator Adeleke on the dancing steps in London

 

APO Newsbreak logo

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!