Nigeria's power sector received a boost on Monday as Transafam Power Limited, a subsidiary of the Transcorp Group, announced plans to add 240MW to the national grid.
The president of Transcorp Group, Mrs. Owen Omogiafo, disclosed this while speaking to newsmen shortly after the unveiling of the newly rehabilitated Gas Turbine-20 in Afam, in the Oyigbo Local Government Area of Rivers State.
Omogiafo stated that Transafam Power was currently generating 188MW, saying gas supply was the major challenge facing the company.
She stated, "All over the world, transformation is powered by power. Our first investment in power was the Ughelli power plant in 2013. When we acquired it, it was 160MW. But as we speak we are generating over 600MW and we are contributing very strongly to Nigeria's power sector.
"And it is the success of that investment that encouraged us to invest in the Afam power plant despite the challenge of gas supply."
Continuing, Omogiafo said, "It's on record that we recovered Afam V (five) Gas Turbine-20 in September last year. We have added another 188MW to the national grid.
"We have four more gas turbines ready to operate as soon as we have gas. Discussions are on with stakeholders for gas to be provided.
"I have just been informed that we are heading to Afam III fast power which is aerodynamics technology, which is expected to bring additional 240MW this year. Our target is for us to be the leader in the power sector space and we are looking at the entire value chain."
Describing it as capital intensive venture, she said, "When we started, we were looking at 25 per cent, we have invested billions.
"We are looking ahead and we want to build local capacity. Before now, to repair a gas turbine you would have to fly abroad, but now, we have built and inaugurated our own clean room for the maintenance of these turbines.
"It's about fulfilling purpose which is improving lives and transforming Africa."
Earlier, the Managing Director of Transafam Power Limited, Vincent Ozoude, said the company had prevented capital flight by building its own "clean room" for the repair and maintenance of gas turbines' components.
Ozoude stated, "We have just inaugurated the generator clean room to repair gas turbines.
"We use the facility to repair generator rotors that will help us minimise the timeline of getting generator rotors out of the country to repair and then bring them back to Nigeria. We have saved the cost, time, logistics, labour and capacity development by having this clean room here.
"We took over this plant at 48MW of power generation and in less than a year and nine months, we have grown it to 188MW out of the 966MW installed capacity."