TRANSCORP’S REVOLUTIONARY INVESTMENTS IN POWER SECTOR
importance of power in Nigeria and the need for all stakeholders to collaborate to transform the sector.
Elumelu said, “We all experience the consequences of our power deficit – the implications for our people, our businesses, our schools, hospitals, and institutions – our national destiny. Transcorp Group is a key player in the power sector. We recognise power is the single most critical factor to lifting our people out of poverty and enabling job creation.
“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. “We 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.
“We are fulfilling our promises to the Government and demonstrating Transcorp’s purpose of “Improving Lives and Transforming Africa”.
On his part, Okoh highlighted the importance of projects such as these in improving access to electricity in Nigeria.
He said, “Afam 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 socioeconomic development and well-being of the nation.”
PROOF OF COMMITMENT TO PROVIDING RELIABLE POWER
However, the successful inauguration of the Afam Three Fast Power turbines is now a testament to the Transcorp Group’s commitment to providing reliable and sustainable power to Nigerians. The inauguration took place shortly after the second anniversary of Transafam Power’s operational takeover of the Afam Power Asset.
Transcorp Group remains at the forefront of driving Nigeria’s economic revitalisation through its power investments in Ughelli, hospitality through Transcorp Hotels and now Transafam.
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. The Afam Genco
Power Plant is located at Okoloma Village, in Oyigbo LGA of Rivers State with a total installed capacity of 966MW.
Transcorp Group is a publicly quoted conglomerate, with a diversified shareholder base of approximately 300,000. Its portfolio comprises strategic investments in the power, hospitality, and oil and gas sectors, with businesses comprising Transcorp Hilton Abuja, Transcorp Hotels Calabar, Transcorp Power, Transafam Power, and Transcorp Energy.