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Transcorp Ughelli Power aims for 850mw by end of 2015

The power generation and investment subsidiary of Transcorp Plc, Transcorp Ughelli Power Limited (TUPL), has said in its 2014 Annual Report that it increased generation capacity from 342 megawatt (mw) as at December 2013 to 610mw at the end of 2014, National Mirror reports.

Speaking at the second Annual General Meeting of the company, the chief executive, Mr Adeoye Fadeyibi, also outlined the TUPL’s short term, post-acquisition operational strategy which is based largely around the recovery of installed capacity.

Renaissance Capital (RenCap) had predicted that Transcorp Plc would more than quintuple its profitability by 2017 in part because of the outlook for the TUPL.

On his own part, Transcorp Plc Group president and chief executive, Emmanuel Nnorom, said, “Our team is excited and united. Ade has done a fantastic job of assessing existing generating assets at Ughelli and determining a course of action for total recovery and as a result, we are on track to achieve 850mw per day by year-end 2015″.

Source : energymixreport.com/
Posted On: 6/20/2015 12:00:00 AM

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