Transcorp Energy set to partner FG on nuclear power plants

Transcorp Energy, a subsidiary of Transnational Corporation of Nigeria Plc, says it is seeking to partner with the federal government to build nuclear power plants as an alternative energy source. 

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

While unveiling Transcorp’s alternative energy plan at the meeting, Ikenga said the project would be delivered using the OPEN100 model, adding that it will offer considerable potential to the power sector.

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.

“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.”

In his remarks, Onu said reiterated the commitment of the government to promote the application of science, technology and innovation within Nigeria, in line with Executive Order No. 5 of the federal government.

“We are delighted to see this innovation and appreciate Transcorp for continuing to champion innovative solutions to Nigeria’s power infrastructure needs,” he stated.

The minister further affirmed the commitment of the federal government, particularly the ministry of science and technology, to support Transcorp and directed that a joint committee comprised of Transcorp and all the relevant stakeholders be established to execute the project.