Transcorp Power, first power generation company to fulfil all privatisation obligations
Transcorp Power Limited, Nigeria’s leading power generation company, located in Ughelli Delta State, with an installed capacity of 972MW,was presented with a post-privatisation discharge certificate by the Federal Government of Nigeria, following fulfilment of all privatisation conditions.
Transcorp Power will no longer be subjected to post-privatisation monitoring and is the first privatised power generation company to achieve this milestone since the power sector privatisation commenced in 2013.
One of the key targets set for Transcorp is a minimum available capacity of 670MW.
The discharge certificate was presented at the meeting of the National Council of Privatisation (NCP) by the Vice President of the Federal Republic of Nigeria and Chairman of NCP, Professor Yemi Osinbajo to Group Chairman, Transnational Corporation Plc (Transcorp), Mr Tony O. Elumelu, CFR, owner of Transcorp Power.
Commenting on the ceremony, His Excellency said, “Post privatisation monitoring is an important aspect of Federal Government’s privatisation programme. Transcorp Power has been able to ensure compliance and surpassed expectations with all post privatisation deliverables. I commend Tony Elumelu and his Transcorp team for this feat. I urge Transcorp Group to continue in that path and even do better.”
Speaking further, the VP said, “This being the first, should not be the last post privatisation discharge event.”
The Group Chairman, Transcorp, Mr. Tony O. Elumelu, CFR, thanked the Federal Government for their trust and confident in Transcorp.
He stated,“In addition to fulfilling the post privatisation performance criteria, Transcorp has driven a strong indigenous agenda – our plants are managed and fully operated by Nigerians, creating jobs and reducing unemployment in the country. Safety is very important to us as well, since we began operations in 2013, we have recorded zero incident till date.”
He said, “At Transcorp Group, we do well and do good. We have grown together with our host communities, enriching lives, and improving the community.”
