Transcorp Ughelli Power Limited, TUPL, the power generation and investment subsidiary of Nigerian conglomerate Transcorp Plc is set to generate up to 850MW of electricity per day by the end of 2015.
The company’s Group President/CEO Mr. Emmanuel Nnorom made this known at the second Annual General Meeting of stakeholders held recently.
“Our team is excited and united, we are on track to achieve 850MW per day by year-end 2015, which represents a major contribution to the country’s total energy output”.
In 2014, TUPL increased generation capacity from 342MW in December 2013, to 610MW at the end of 2014, representing 78% increase year-over-year and a 300% increase from takeover and this year, financial advisory firm Renaissance Capital predicted that Transcorp Plc would more than quintuple its profitability by 2017 in part because of the outlook for TUPL.
According to the Board, 2015 will see the execution of expansion plans through key acquisitions, as well as a Greenfield project set to begin operations in 2018.
It will be recalled that during the company’s Board meeting earlier this month, Transcorp Plc Board Chairman Tony O. Elumelu, predicted long-term mega-growth.
“We are determined to produce a quarter of all power generated in Nigeria and we are clearly on track to achieve this, thanks to the cohesiveness of the leadership team and the hard work of the staff, driven by the TUPL CEO” he said.

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