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Nigeria : Transcorp achieves 183-percent boost in Ughelli Power Plant's generated capacity
Publish Date : 19-Aug-2014
In an era characterised by inefficiencies and low investments, with the Federal Government having the sole rights to own power production, transmission and distribution facilities, the Nigerian power industry had been run for several decades as a state monopoly, up until 1st November, 2013.
A senior member of the Technical Committee of the National Council on Privatisation said the privatization of the distribution companies (Discos) and the generation companies (Gencos) did not only aim to transfer the assets' ownership. He said this at the end of the privatisation process, which ended the existence of the state-owned Power Holding Company of Nigeria (PHCN). He added that the main purpose was to bring into play new owners with 'deep pockets' who could fund and/or access funding for the fast restoration of lost capacity and/or add substantial new capacity to make up for decades of government neglect and mishandling.
The investors have had ?to face challenges inherited from the era of state-controlled power industry, in the last nine months after the Discos and Gencos were handed-over to the private investors. However, some of the investors are moving ahead in upgrading the acquired assets to ensure enhanced service delivery, in spite of having to weather a mix of challenges from gas supply shortages, weak transmission network, lower-than-expected revenue, among others.
Owner of the Ughelli Power Plant, Transcorp Ughelli Power Limited, has achieved a 183-percent boost in the plant's generated capacity. The plant produced 360MW of power in January, up from 160MW on November 1, 2013 when Transcorp took ownership of the facility.
