Transcorp Power hits 18% of national generation
President/CEO, Transcorp Plc, Adim Jibunoh; Chairman, Heirs Holdings, Tony Elumelu; CEO, Heirs Holdings, Emmanuel Nnorom; at Transcorp send forth and welcome dinner ceremony.
Transcorp Power Company, Ughelli, a subsidiary of Transnational Corporation, has in the last one month, consistently generated 18 per cent of the total power generation in the country.
This was disclosed by the outgoing President/Chief Executive Officer of Transnational Corporation, Emmanuel Nnorom, at a send-off reception held in his honour in Lagos.
Mr. Nnorom said the power subsidiary accounted for 70 per cent of Transcorp group’s turnover.
“In the last two years, we brought in new turbines, one of them just commissioned in March by the Governor of Delta State, Ifeanyi Okowa, and the Minister of Power, Works and Housing, Babatunde Fashola.
“Transcorp is inching towards 18 to 20 per cent of the national power transmitted. In the last one month, we have been number one in power generation in the country. The target for us is 25 per cent minimum. And we should surpass that in the next two years,” he said.
Fashola recently unveiled the company’s new 115mw turbine which caused a leap from the 160 megawatt (mw) capacity inherited in 2013 to 620mw.
Chairman, Transcorp Group, Tony Elumelu, told guests at the occasion that the company was aiming to meet 815mw by the end of 2017, and ultimately aiming to generate 25 per cent of the country’s power generation output.
While presenting the baton of leadership to the new President and CEO of the group, Adim Jibunoh, both Elumelu and Nnorom described him as a mobiliser of people, a safe hand, strategically focused, and one who would take Transcorp further.
Jibunoh, in his remarks, said the leadership and the equipment are there, and the management planned to propel the company to greater heights.
A First Class graduate in Economics from the Univer¬sity of Port Harcourt, Rivers State, Jibunoh has spent seven years at Heirs Holdings, where he held several senior positions.