The agreement follows a cooperation agreement executed by the two companies in 2013.
In addition, the companies have signed a separate agreement for refurbishment of damaged GT 15 turbine at the Ughelli plant, which will add 115MW to the plant’s output.
Transcorp and Heirs Holdings chairman Tony Elumelu said the agreement will increase the output at the plant before the end of 2014.
”We are confident that this partnership with GE will further accelerate the achievement of our goals in the power sector,” Elumelu added.
General Electric Global chairman Jeffrey Immelt said, ”This partnership with Transcorp underlines GE’s deep commitment to developing the Nigerian power sector.”
With the additional 115MW, and other planned rehabilitation works, output at Ughelli power plant is scheduled to increase to 700MW by December 2014.
Claimed to be Nigeria’s largest gas-fired electricity generation asset, the $300m Ughelli power plant currently generates 360MW of electricity, and is a part of the $2.5bn investment pledge made by Elumelu, to deliver affordable, accessible power to Africa under the Power Africa Initiative.
