The Bureau of Public Enterprises has commended Transcorp Power Limited, a Generation Company in Ughelli, Delta State, for boosting power generation in two years.
BPE’s Director of Legal Services, Joseph Ojomu, gave the commendation on Wednesday when he led a team on post-privatisation monitoring visit to the company.
Ojomu said the company was on course by boosting power generation in two years from 167 to 634 megawatts to grow the economy.
He said the BPE’s visit was aimed at monitoring activities of the company to see if it adhered to terms of the contractual agreement.
He said: “We need to ensure that they implement what is in the transaction documents and to see if there are problems so that we can proffer solutions.
“Power generation is important and we felt that we should support the current administration’s drive so that there will be enough power generation to propel the economy.”
In his remarks, Adeoye Fadeyibi, the Managing Director of the company, described the BPE’s visit as a booster and would enhance performance.
Fadeyibi, represented by Francis Agoha, the company’s Technical Operations Manager, said such monitoring visit would help investors to do the right thing.
He said the company would not be able to generate the 850 megawatts it projected for December.
According to him, the inability to meet the forecast is due to a breakdown of one of the generating machines at the point of commissioning.
Fadeyibi said: “The GT 15 generator got damaged at the point of commissioning, so we have to take it back for repairs.
“If we have that machine, it would have enabled us to do that, but it went down at the point of commissioning and that threw us back.
“Now, the new commissioning date is July 2016.
“So we are looking at generating about 740 megawatts capacity by December.”
Fadeyibi said that there were other challenges of gas supply and the inability of distribution companies to pick up the power generated for distribution.
The News agency of Nigeria reports that the company, formerly known as Ughelli Power Plc, became Transcorp Power Limited after merger on November 1, 2013.
NAN.