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  • Oil & Gas - Energy
  • Updated: July 01, 2021

Transcorp Set To Build Nigeria's First Nuclear Power Plants

Transcorp Energy Ltd, a unit of Transnational Corp. of Nigeria Plc plans to develop nuclear power plants in Nigeria as an alternative energy source to improve access to electricity.

Peter Ikenga, head of Transcorp Energy business, announced this on Tuesday during a meeting with Ogbonnaya Onu, minister of science and technology.

The plants will offer a “less expensive and less complicated solution” for stable and reliable power generation in the country, using so-called OPEN100 model technology.

The OPEN 100 model, launched by US Energy Impact Center (EIC) in February 2020, is the world’s first open-source blueprint for designing, constructing, and financing nuclear power plants to deliver low-carbon electricity generation.

Just over 55% of the Nigerian populace has access to electricity, according to World Bank data.

“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,” Ikenga said.

“It will further provide the country with a reliable and sustainable energy source, without the challenges preventing stable and reliable power generation in Nigeria.”

Science and Technology Minister Ogbonnaya Onu has set up a committee comprising representatives of Transcorp and the government to manage the execution of the project.

 

 

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Oluwatosin Ogunjuyigbe
Oluwatosin Ogunjuyigbe

A seasoned business content writer, financial markets analyst, and tech enthusiast.

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