In West Africa, the Transnational Corporation of Nigeria (Transcorp), announced on Sunday the successful merger of its two power subsidiaries Transcorp Ughelli Power Ltd and Ughelli power plant, which are incorporated under the new name Transcorp Power Limited.
Transcorp is a diversified conglomerate with interests in the energy sector, which took over the Ughelli power plant in 2013.
Ughelli Power Plant is Nigeria’s largest fossil-fuel based power plant, with a generation capacity of 972MW.
Transcorp Power Limited reiterates commitment
According to a company statement, “the merger has been designed to complement the management and operations of Transcorp’s power business for greater efficiency.”
The chairman of the Transcorp Power board, Tony Elumelu, said in a statement: “While our structure has changed, our objectives have not. As one of the leading power generating companies in Nigeria, our focus remains on aggressively increasing our output and expanding our capacity to generate at least 25% of Nigeria’s power.”
“We have increased power generation by more than 525% in the two years since we acquired Ughelli power plant, which makes ours the fastest growing among privatised power assets in the country,” Transcorp Power’s CEO Adeoe Fadeyibi stated.
“We are aggressively pursuing our generation recovery capacity programme and are on course to deliver 760MW by December 2015,”
Dangote to build 500MW power plant
In other power generation news, the Dangote Group has announced that the corporation plans to build a 500MW power plant for the communities of Kano, Jigawa, Katsina and Kaduna.
Dangote Group is a diversified business conglomerate in Nigeria specialising in manufacturing and importing of cement among other specialities.
During the Kano 36th International Trade Fair, the group executive director, stakeholders management and corporate communications, Engineer Mansur Ahmed, stated that the new power plan is meant to support government’s effort to increase access to electricity.