{"id":22225,"date":"2014-02-01T11:38:31","date_gmt":"2014-02-01T10:38:31","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=22225"},"modified":"2014-02-01T11:38:31","modified_gmt":"2014-02-01T10:38:31","slug":"transcorp-ge-partner-to-improve-power-generation-in-nigeria","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/exclusive\/transcorp-ge-partner-to-improve-power-generation-in-nigeria\/","title":{"rendered":"Transcorp, GE Partner To Improve Power Generation In Nigeria"},"content":{"rendered":"<div id=\"messagecontent\">\n<div>\n<div id=\"messagebody\">\n<div>\n<p>Lagos, 30 January 2014 \u2013 Transcorp Ughelli Power Ltd (TUPL), the power<br \/>\nsubsidiary of Transnational Corporation of Nigeria Plc (Transcorp), and<br \/>\nGeneral Electric (GE) have signed an agreement to expand the capacity of<br \/>\nTUPL\u2019s Ughelli power plant by1000MW over the next 3 to 5 years.<\/p>\n<p>Both parties have also signed a separate agreement to rehabilitate the<br \/>\ndamaged GT 15 turbine at the Ughelli plant, which will add 115MW to the<br \/>\nplant\u2019s output.<\/p>\n<p>Currently, the Transcorp Ughelli power plant generates 360MW of<br \/>\nelectricity, up from 160MW on November 1, when Transcorp took ownership of<br \/>\nthe plant. With the additional 115MW, as well as other rehabilitation<br \/>\nworks planned at the plant, output at Ughelli will increase to 700MW by<br \/>\nDecember 2014.<\/p>\n<p>The Ughelli power plant is Nigeria\u2019s largest gas-fired electricity<br \/>\ngeneration asset. Purchased by Transcorp during the 2013power<br \/>\nprivatization programme, the $300 million plant is part of the $2.5<br \/>\nbillion investment pledge made by the Chairman of Transcorp and Heirs<br \/>\nHoldings, Tony O. Elumelu, CON, to deliver affordable, accessible power to<br \/>\nAfrica under the Power Africa Initiative. Heirs Holdings, Elumelu\u2019s<br \/>\npan-African proprietary investment company, is Power Africa\u2019s largest<br \/>\nprivate sector investor and a major investor in Transcorp.<\/p>\n<p>The agreements were signed at a closed door meeting between executives of<br \/>\nboth companies, led by Elumelu and the Global Chairman of General<br \/>\nElectric, Jeffrey Immelt. They follow a cooperation agreement executed by<br \/>\nTranscorp and GE in 2013.<\/p>\n<p>Commenting, Elumelu said, \u201cWe are very pleased to work with GE, a proven<br \/>\nworld leader in power technology development, on the Ughelli plant<br \/>\nexpansion project. With this, we\u2019ve taken a bold step in fulfilling our<br \/>\npromise to Transcorp\u2019s stakeholders and the people of Nigeria. In a very<br \/>\nshort period of time, we have achieved significant impact &#8211; power<br \/>\nproduction has more than doubled, and with this agreement, we will see<br \/>\nincreased output before the end of this year. We are confident that this<br \/>\npartnership with GE will further accelerate the achievement of our goals<br \/>\nin the power sector.\u201d<\/p>\n<p>Immelt said,\u201c GE fully appreciates the confidence expressed by Transcorp.<br \/>\nWe are happy to bring the considerable resources of GE to support<br \/>\nTranscorp\u2019s audacious vision for Nigeria\u2019s Power industry. This<br \/>\npartnership with Transcorp underlines GE\u2019s deep commitment to developing<br \/>\nthe Nigerian power sector.\u201d<\/p>\n<p>A publicly listed conglomerate with strategic investments in the power,<br \/>\nhospitality, business and energy sectors, Transcorp, through TUPL, is<br \/>\ncommitted to transform and bring the plant to profitability by increasing<br \/>\nits generating capacity to impact positively on the socio-economic<br \/>\ndevelopment of Nigeria.<\/p>\n<p>GE, one of the world\u2019s most reputable companies is the global leader in<br \/>\nthe design, manufacture, supply, installation and maintenance of<br \/>\ntechnology and services for the Power, Aviation, Oil &amp; Gas, Healthcare and<br \/>\nTransportation sectors.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Lagos, 30 January 2014 \u2013 Transcorp Ughelli Power Ltd (TUPL), the power subsidiary of Transnational Corporation of Nigeria Plc (Transcorp), and General Electric (GE) have signed an agreement to expand&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":22226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-22225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-exclusive"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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