On his part, the BPE Director-General, Alex Okoh, explained the discharge certificate became necessary after an evaluation showed that UPP’s generation capacity under Trancorp Power grew by 227 per cent in a decade.
“The company has achieved an available capacity of 680.8 megawatts, which surpasses the minimum performance target of 670 megawatts. Capital expenditure totaling N58.6bn was the covenant established for phases one and two of the post-acquisition plan, while actual investments made by the current investor were in the sum of N83.85bn. All the agreed benchmarks on human resources, health, safety and environment and corporate social responsibility have also been achieved.
In his remarks, Elumelu said the company’s indigenisation plan has ensured that the Power Plant is managed and run by Nigerians alone. “Mr Vice President, let me also say that in addition to the criteria set, we actually are doing a very strong indigenisation of Transcorp Power Plc. I’m proud to say that our power plant is managed and operated 100 percent by Nigerians.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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