Transcorp Ughelli Power Ltd (TUPL), which is the, the power subsidiary of Transnational Corporation of Nigeria (Transcorp), and General Electric (GE), earlier in 2014 signed an agreement to expand the capacity of TUPL’s Ughelli power plant by1,000 MW over the next three to five years.
Both parties signed a separate agreement to rehabilitate the damaged GT 15 turbine at the Ughelli plant, which will add 115 MW to the plant’s output. In the first quarter of 2014, the Transcorp Ughelli power plant generated some 360 MW, up from 160 MW on November 1 2013, when Transcorp took ownership of the plant. With the additional 115 MW, as well as other rehabilitation works planned at the plant, output at Ughelli will increase to 700 MW by December 2014.
The Ughelli power plant is Nigeria’s largest gas-fired electricity generation asset. Purchased by Transcorp during the 2013 power privatisation programme, the US$300 million plant is part of the US$2.5 billion investment pledge made by the chairman of Transcorp and Heirs Holdings Tony Elumelu, 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.