Transcorp Group’s Group Chief Executive Officer, Mrs. Owen Omogiafo, announced that Transcorp Power is working to generate an additional 150 megawatts of electricity despite ongoing gas supply issues affecting its thermal plants.
Speaking with Arise News at the Future Investment Initiative conference in Saudi Arabia, Omogiafo highlighted the company’s commitment to expanding its energy output.
She revealed that Transcorp has signed a memorandum of understanding with the Rural Electrification Agency to enhance power generation through renewable energy sources, aiming to diversify its energy portfolio and address supply challenges.
“We are working assiduously to ensure that we are closing the energy gap. One of the things you expect to see for Transcorp Group is our focus on increasing energy availability through investment and partnerships in renewable energy. Just last week, we signed with the Rural Education Agency of Nigeria, an MoU that will see us bring 150 megawatts of additional capacity into the Nigerian energy sector,” she said.
The GCEO of Trancirp Group, expressed concern over a significant gas shortage that is limiting the company’s power generation capacity.
She noted that the Afam power plant in Rivers State has the potential to generate 301 megawatts, but is currently supplying only 100 megawatts due to these gas supply challenges.
“Nigeria has an installed capacity of about 13,000 megawatts, but we are only doing about 5,000 megawatts. If I look at one of my power plants, which is the Afam power plant in Rivers State, I have today an available capacity ready to generate 301 megawatts. But it will interest you to know that I’m only doing 100 megawatts. Why? Gas shortage.
“If we had a very strong integrated gas-to-power strategy, it would resolve the gap that we have in our country, and if we take that across Africa, we are going to liberate and unlock the value that we see within our blessed continent. Then we will be right up there,” she maintained
