‘Transcorp Power generating 15% of electricity on grid’

The combined installed capacity of 1,938 megawatts (MW) by Transcorp Power Limited, TPL, accounts for 15.5 per cent of the total installed capacity in Nigeria which is about 12,522MW, said President/Group Chief Executive Officer, Transcorp Plc, Owen Omogiafo.

Speaking at a briefing in Lagos yesterday, she said TPL increased its available generation capacity from an average of 470MW to an average of 638MW as of September 2022.

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Omogiafo noted that in order to improve efficiency and secure reliable and steady gas supply, TPL signed firm gas contract agreements with the NPDC/NDW, Chevron, and Seplat.

“Also, TCN installed and energized a new 150mw 330/132/33KV interbus transformer at Delta IV Transmission substation Ughelli, Delta State. Thereby improving TPL’s evacuation capacity.  Given the recent increase in available capacity, steady gas supply and improved evacuation capacity, TPL is looking to exceed its average generating capacity in the coming years,” she said.

Omogiafo noted that following the administrative handover on March 10, 2021, Transcorp has successfully increased and maintained the available Transcorp Afam plant limited capacity from 48mw at the time of takeover to 188mw with minimum CAPEX requirements between March 2021 to September 2022.

While noting that the ongoing gas challenges impacted its generation capacity, she stressed that TAPL has undertaken some activities to improve performance going forward which include commissioning of GT20 with additional capacity of 138MW in September, execution of a gas supply agreement with AccuGas and HHOG, among others to ensure the company has steady gas supply.

According to her, the GT20 has been non- operational for 15 years.

“With the improvement in installed capacity and gas supply, we are looking forward to finishing strong in 2022 and solid start in 2023,” she said.

Omogiafo explained that the group would continue to surpass industry and targets across key performance indicators, stressing that the 2022 strategic target for Transcorp Hilton Abuja is pegged at 73%, while that of Transcorp Hotels Calabar at 53%.