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Transcorp Energy Presents Alternative Energy Solution To Nigeria

First Bank Nigeria

Abuja, Nigeria June 29, 2021; Transcorp Energy Limited, a subsidiary of Transnational Corporation of Nigeria Plc, one of Nigeria’s leading power producers, announced an alternative energy solution to Nigeria, as part of its broader integrated energy strategy. Unveiling Transcorp’s alternative energy plan at a meeting with the Honourable Minister of Science & Technology, Dr. Ogbonnaya Onu, Peter Ikenga, the Head of Transcorp’s Energy business, said it offered considerable potential to the power sector.

Speaking at the event, Mr Ikenga stated that Transcorp Energy was seeking to collaborate with the Federal Government, through the Federal Ministry of Science and Technology, to develop nuclear power plants as alternative energy source in Nigeria, using the OPEN100 model. Mr. Ikenga in his remarks said, “this project is transformative and a first in Nigeria and would radically change the way nuclear power plants are deployed, offering a substantially less expensive and less complicated solution. It will further provide the country with a reliable and sustainable energy source, without the challenges preventing stable and reliable power generation in Nigeria.”

The Honourable Minister of Science and Technology, Dr. Ogbonya Onu, welcoming the Transcorp team, reiterated the commitment of the government to promote the application of science, technology and innovation within Nigeria, in line with the Executive Order No. 5 of the Federal Government. “We are delighted to see this innovation and appreciate Transcorp for continuing to champion innovative solutions to Nigeria’s power infrastructure needs.” he stated.

The Minister further affirmed the commitment of the Federal Government, particularly the Ministry of Science and Technology to support Transcorp and directed that a joint committee comprised of Transcorp, and all the relevant stakeholders be established to jointly manage execution of the project.

The OPEN100 is the world’s first open-source blueprint for nuclear power plant deployment for a small, standard, pressurized water reactor, that will accelerate deployment of the modular nuclear plants for power generation.

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