{"id":104746,"date":"2023-05-10T15:26:54","date_gmt":"2023-05-10T14:26:54","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=104746"},"modified":"2023-05-10T15:26:54","modified_gmt":"2023-05-10T14:26:54","slug":"vice-president-yemi-osinbajo-commissions-transcorps-afam-240mw-three-fast-power-turbines","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/vice-president-yemi-osinbajo-commissions-transcorps-afam-240mw-three-fast-power-turbines\/","title":{"rendered":"Vice President Yemi Osinbajo Commissions Transcorp\u2019s Afam 240MW Three Fast Power Turbines"},"content":{"rendered":"
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9th May 2023 \u2013 Afam, Rivers State; The Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo on Tuesday commissioned Transafam Power – a subsidiary of Transnational Corporation Plc\u2019s 240MW Afam Three Fast Power plant in Afam, Rivers State.\u00a0 With an already existing power plant residing in Afam, this brings the cumulative generating capacity of the plant to 1,000MW.<\/div>\n
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The Commissioning of Afam Three Fast Power plant came on the heel of the presentation of the Discharge Certificate to Transcorp Power Limited by the Vice President and Chairman of the National Council on\u00a0 privatization (NCP) in a ceremony held at the presidential Villa Abuja on Monday, following the fulfilment of all privatisation conditions set by the Bureau for Public Enterprise (BPE).<\/p>\n

Speaking during the commissioning, the Vice President lauded the Chairman of Transcorp Group, Tony Elumelu and the entire Transcorp team for yet another power sector investment.<\/p>\n

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\u201cAfam Three Fast Power is an important part of the evolving story of Nigeria’s aspirations to bring electricity to millions in their homes, factories and businesses that provide their livelihoods. It brings into view the importance of private capital in building up capacity along the power value chain.\u201d The Vice President said.<\/p>\n

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Speaking further, Prof. Osinbajo said: \u201cA major weakness of our privatisation process has been inadequacy of private investments and new cash injections. But the tide is turning with indigenous power and private investors such as Transcorp Power and Heirs Holdings, making significant investments such as the 100% acquisition of the 966MW installed capacity in Afam Plc and Afam III fast power Limited jointly referred to as Afam Genco\u201d<\/p>\n

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In his remark, The Minister of Power, Engr. Abubakar Aliyu applauded Transcorp Group for its positive contributions to improving electricity generation in Nigeria.<\/p>\n

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\u201cWhat we are celebrating today is an exemplar of the best of Public-Private partnerships. This collaboration has ensured that we are commissioning Afam Three Fast Power today, with a capacity to inject an additional 240MW of electricity into the National grid.\u201d<\/p>\n

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\u201cAt full capacity, it will no doubt provide about 40% of our generated energy today. This is commendable and will certainly improve electricity supply to the nation along with growth of our economy and Gross Domestic Product (GDP)\u201d, Engr. Abubakar said.<\/p>\n

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The Chairman of Transcorp Group, Mr. Tony O. Elumelu, during the ceremony said that \u201cWe all know the importance of power in Nigeria.\u00a0 We all experience the consequences of our power deficit \u2013 the implications for our people, our businesses, our schools, hospitals, and institutions \u2013 our national destiny. Transcorp Group is a key player in the power sector.\u00a0 We recognise power is the single most critical factor to lifting our people out of poverty and enabling job creation.<\/p>\n

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Therefore, I am so proud today, that we have been able to bring together so many key stakeholders. He concluded his speech with the commitment to continue to do well and do good. \u201cWe will not rest until we know every Nigerian has access to the power and the fruits of that power, which we know can transform our country.<\/p>\n

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We are fulfilling our promises to the Government and demonstrating Transcorp\u2019s purpose of \u201cImproving Lives and Transforming Africa\u201d.<\/p>\n

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The Director General of the Bureau for Public Enterprises, Alex Okoh highlighted the importance of projects such as these in improving access to electricity in Nigeria. He said \u201cAfam Three fast Power combined with the adjoining Afam Power Plc, will in the next few years add almost 1,000MW of electricity to the national grid. This will go a long way towards reducing the current power deficit while enhancing access to electricity for millions of private and corporate Nigerians, creating jobs, and ensuring the socio-economic development and well-being of the nation.\u201d<\/p>\n

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The successful commissioning of the Afam Three Fast Power turbines is a testament to the Transcorp Group’s commitment to providing reliable and sustainable power to Nigerians. The commissioning took place shortly after the second anniversary of Transafam Power’s operational takeover of the Afam Power Asset.<\/p>\n

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Transcorp Group remains at the forefront of driving Nigeria\u2019s economic revitalisation through its power investments in Ughelli, hospitality through Transcorp Hotels and now Transafam.<\/p>\n

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Transafam Power Limited is one of the power subsidiaries of Transcorp Group and the core investor in Afam Genco, comprising Afam Power Plc and Afam Three Fast Power Limited.\u00a0 The Afam GenCo Power Plant is located at Okoloma Village, in Oyigbo LGA of Rivers State with a total installed capacity of 966 MW.<\/p>\n

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9th May 2023 \u2013 Afam, Rivers State; The Vice President of the Federal Republic of Nigeria, Prof. Yemi Osinbajo on Tuesday commissioned Transafam Power – a subsidiary of Transnational Corporation…<\/p>\n","protected":false},"author":1,"featured_media":104747,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-104746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"\nVice President Yemi Osinbajo Commissions Transcorp\u2019s Afam 240MW Three Fast Power Turbines - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/exclusive\/vice-president-yemi-osinbajo-commissions-transcorps-afam-240mw-three-fast-power-turbines\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vice President Yemi Osinbajo Commissions Transcorp\u2019s Afam 240MW Three Fast Power Turbines - 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