For a period of 3 to 5 years, the two will rehabilitate the damaged GT 15 turbine at the Ughelli plant, which is expected to add 115MW to Transcorp Ughelli power plant which generates 360MW of electricity.
The firms expect the rehabilitation works to increase Ughelli’s output to 700MW by December 2014. The $300 million plant was purchased by Transcorp last year and is under the $2.5 billion investment pledge made by Tony O. Elumelu, CON, towards Obama’s Power for Africa initiative.
According to Elumelu, “We are very pleased to work with GE, a proven world leader in power technology development, on the Ughelli plant expansion project. With this, we’ve taken a bold step in fulfilling our promise to Transcorp’s stakeholders and the people of Nigeria. In a very short period of time, we have achieved significant impact – power production has more than doubled, and with this agreement, we will see increased output before the end of this year. We are confident that this partnership with GE will further accelerate the achievement of our goals in the power sector.”
With businesses in the power, hospitality, business and energy sectors, Transcorp,aims at transforming the plant into a profitable one by increasing its generating capacity. This move is also expected to change lives in Nigeria.