As part of its integrated energy strategy Transcorp Energy Limited wants the Federal Government to develop nuclear power plants as alternative energy source for power generation in Nigeria.
Unveiling the company’s alternative energy plan in Abuja at a meeting with the Minister of Science & Technology, Ogbonnaya Onu, the subsidiary of Transnational Corporation of Nigeria Plc said nuclear power plants would unlock greater value in the power sector.
Making the presented on behalf of the company, the Head of Transcorp’s Energy business, Peter Ikenga, said Transcorp Energy was seeking collaboration with the Federal Government through the Federal Ministry of Science and Technology to develop the alternative energy source.
Ikenga said using the OPEN100 model for power generation would save the country all the challenges associated with current energy supply arrangement.
“This project is transformative and a first in Nigeria. It will 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,” Ikenga said.
The Minister of Science and Technology, Ogbonya Onu, reiterated the commitment of the government to promote the application of science, technology and innovation is solving problems within Nigeria, in line with the Executive Order No. 5 of the Federal Government.
“We are delighted to see this innovation. I appreciate Transcorp Energy for leading the charge in the industry with this initiative. The approach by Transcorp Energy to use smallscale nuclear plants in generating power is catalytic for achieving the national goals on Science and Technology”, he stated.
The Minister further affirmed the commitment of the Federal Government, particularly the Ministry of Science and Technology to support Transcorp Energy in the venture in the development of the solurion.
“I have directed that a joint committee, comprising of Transcorp Energy, and all the relevant stakeholders be setup immediately to jointly manage the execution of the project.
“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.
About Transcorp Energy
Transcorp Energy Ltd, 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. Transcorp Energy Ltd. is the operator of OPL 281 asset located in the Niger Delta.
Transcorp Energy’s mission is to build an integrated energy busines delivering value to all stakeholders, while improving lives and transforming Nigeria.