Transcorp Power At 10, Recommits To Boosting Energy Provision For Economic Growth

Transcorp Power Limited, one of the power subsidiaries of indigenous conglomerate, Transnational Corporation Plc has restated its commitment to sustainable development as it marked its 10th anniversary.

Transcorp Group  said the power firm had been borne out of a desire to improve lives and transform Africa by investing in strategic sectors of the economy that can catalyse growth.

The managing director/chief executive officer of Transcorp Power Limited, Peter Ikenga, noted that the company’s journey has been one of resilience, innovation, and a steadfast commitment to powering progress.

Harnessing subsidy savings for sustainable development

He said, “As we celebrate the 10th anniversary of Transcorp Power Limited, we reflect on a decade of impactful contributions to the energy sector. I am immensely proud of our team’s dedication and the milestones we’ve achieved.

“We remain committed to driving positive change and being a catalyst for sustainable development. Thanks to our team, stakeholders, and the communities we serve for being integral parts of this incredible journey. Here’s to the next decade of powering possibilities and lighting up the path to a brighter future.”

Transcorp invested in the 972MW Ughelli Power Plant in 2013 and over the years, the power company has grown to become one of the leading power companies in the country. It is the largest gas-fired power generating station in the country.

Transcorp Power recently marked its 10th anniversary, which according to the company, commemorate a decade of unwavering dedication to driving progress and creating a positive impact in society.

Ikenga, reflected on the company’s journey, emphasising resilience, innovation, and an unwavering commitment to driving progress.

He expressed immense pride in the team’s dedication and the numerous milestones achieved, highlighting that the anniversary is not just a recognition of past successes but a launchpad for future endeavors.

The company said that the inception of Transcorp Power Limited was a result of the Transcorp Group’s commitment to fulfilling its mission of enhancing lives and transforming Africa through strategic investments in sectors pivotal for economic growth.

Also, Ikenga reiterated the company’s commitment to positive change and sustainable development, expressing gratitude to the team, stakeholders, and the communities served for their integral roles in the remarkable journey.

‘‘This vision materialized with the establishment of the 972MW Ughelli Power Plant in 2013. Over the past decade, Transcorp Power Limited has experienced impressive growth, solidifying its position as one of the leading power companies in the country. Earlier this year, the company achieved a significant milestone by becoming the first power generation company to successfully complete post-privatization monitoring by the Bureau of Public Enterprise (BPE), meeting the requirements of the post-acquisition plan (PAP) compliance.

‘‘Throughout the past decade, Transcorp Power has actively contributed to its host community through various projects aimed at improving livelihoods. Noteworthy initiatives include a vocational skills acquisition program that has empowered over 200 individuals. Additionally, the Transcorp Staff School, adopted following the takeover of the Ughelli Plant, has become a valuable asset to both the community and its employees, ensuring a higher quality of education for local children,’’ the company said.

The anniversary celebration, held in Warri, Delta State, included recognition for employees who have been with the company since its inception, acknowledging their significant contributions to the achievements of the past decade.

Transcorp Power Limited continues to receive accolades for its notable contributions to the power sector, recently securing multiple international awards, such as Leading Power Generation Company Nigeria 2023 (International Business Magazine Awards 2023) and Most Sustainable Power Company Nigeria 2023 (2023 World Business Outlook Awards).