TCN Raises $1.63bn to Expand Power Transmission Capacity to 8,100MW
The Transmission Company of Nigeria has raised $1.63 billion from a variety of sources to fund the expansion of its electricity transmission capacity under the Transmission Rehabilitation and Expansion Programme (TREP) to 8,100 megawatts (MW).
Managing Director, Mr. Usman Mohammed said: “For the Transmission Expansion Rehabilitation Programme, I’ve told you that it is $1.578 billion and we actually have an increase of $55 million. So, if you add this, it will become $1.63 billion. That’s how it is.”
Mohammed, who spoke to journalists at the weekend in Abuja, explained that the $1.63 billion so far raised ensured the TCN built up its electricity wheeling capacity from about 5,000MW to the current level of 8,100MW within months.
“As at December 2017, we did a combined peak of 5,224MW. What does that tell you? It tells you that even the capacity of distribution moved from 3,500MW to 5,224MW. For transmission, the capacity moved from 5,000MW to 7,124MW in December last year when we did the simulation. And generation moved to slight above 7,000MW.
“The good news is that transmission has again moved up. We did a simulation about two weeks ago and the capacity of transmission has moved to 8,100MW,” he continued.
Source: This Day Live