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Monday, February 3, 2014
Transcorp Ughelli Power Ltd (TUPL), the power subsidiary of Transnational Corp. of Nigeria Plc (Transcorp), and GE have signed an agreement to expand the capacity of TUPL’s Ughelli power plant by1,000 MW over the next three to five years. The two parties also 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.
Currently, the Transcorp Ughelli power plant generates 360 MW of electricity, up from 160 MW on November 1, 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 the end of 2014.
The Ughelli power plant is Nigeria’s largest gas-fired electricity generation asset. Purchased by Transcorp during the 2013power privatization program, 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, to deliver affordable, accessible power to Africa under the Power Africa Initiative.
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.”
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