Transcorp Energy Limited Seeks Partnership with FG to develop Nuclear Power Plants.

Transcorp Energy Limited, a subsidiary of Transnational Corporation of Nigeria Plc, has revealed that it is seeking to collaborate with the Federal Government of Nigeria to develop nuclear power plants as alternative source of energy for power generation in Nigeria using the OPEN 100 model.

This was revealed by the Head of Transcorp Energy Business, Peter Ikenga, during the unveiling of the company’s alternative energy plan at a meeting with the Honourable Minister of Science and Technology, Dr Ogbonnaya Onu.

In his remarks, Mr Ikenga 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, devoid of some of the challenges hampering stable and reliable power generation in Nigeria.’’

He further added that the recent move will help unlock greater value in the power sector.

On the other hand, the Honourable Minister of Science and Technology, Dr Ogbonaya Onu, while 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.

Dr Onu said: ‘’We are delighted to see this innovation and appreciate Transcorp for leading the charge in the industry with this initiative. The approach by Transcorp to use small scale nuclear plants is catalytic for achieving the national goals on Sciency and Technolgy’’, he stated.

Dr Onu further directed that a joint committee comprised of Transcorp, and all the relevant stakeholders be set up immediately, so as to jointly manage the execution of the project. In his view, this is an affirmation that the Federal Government, particularly the Ministry of Science and Technology is committed to supporting laudable initiatives that would spur the technological advancement of the country.

What you should know:

  • 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.
  • Transcorp Energy, a subsidiary of Transnational Corporation of Nigeria Plc, is a leading energy company, engaged in upstream petroleum development and spearheading innovation in alternate energy sources