In line with her ambition to generate 25% of Nigeria’s electricity requirements, Transcorp Plc have acquired Afam GenCo, a natural-gas-fired power generation facility in Oyigbo, Rivers State with a combined installed capacity of 966MW.
The Chairman Tony O. Elumelu, C.O.N signed the Share Sale Purchase Agreement (SSPA) for the transaction with the Federal Government led by His Excellency, the Vice President of Nigeria, Professor Yemi Osinbajo, the DG of BPE, Alex Okoh at the State House.
This investment deepens Transcorp’s play in the power sector and takes her overall installed generation capacity as a business to 1,936MW from 972MW installed at Transcorp power plant in Ughelli, Delta State.
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