Owen Omogiafo, the Group Chief Executive Officer of Transcorp Group, has revealed that Transcorp Power is aiming to generate an additional 150 megawatts of electricity, despite ongoing challenges with gas supply for its thermal power plants.
Omogiafo shared this update during an interview with Arise News at the Future Investment Initiative conference in Saudi Arabia.
She highlighted that Transcorp recently signed a memorandum of understanding with the Rural Electrification Agency to boost power generation through renewable energy.
She said: “We’re working tirelessly to help close the energy gap. One of Transcorp Group’s main priorities is to increase energy availability through investments and partnerships in renewable energy.
“Just last week, we signed an MoU with Nigeria’s Rural Electrification Agency to add 150 megawatts of power to the country’s energy sector.”
However, Omogiafo also noted that a severe gas shortage is limiting the company’s ability to maximise its generation capacity.
According to her, the Afam power plant in Rivers State is capable of generating 301MW, yet currently only supplies 100MW.
“Nigeria’s total installed capacity is around 13,000 megawatts, but we’re only producing about 5,000 megawatts. For instance, our Afam power plant can generate 301 megawatts, but right now it’s only delivering 100 megawatts due to a gas shortage,” she said.
Omogiafo added that a robust, integrated gas-to-power strategy would be key to addressing the energy gap in Nigeria and could unlock tremendous potential across Africa.
“With a strong gas-to-power approach, we could unlock the true value within our continent and achieve substantial progress,” she affirmed.
