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Transcorp Energy Ltd unveils nuclear power plants as alternative energy source for Nigeria

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“Transcorp Energy was seeking to collaborate with the Federal Government, through the Federal Ministry of Science and Technology, to develop nuclear power plants using the OPEN100 model”

As part of its integrated energy strategies, Transcorp Energy Limited, a subsidiary of Transnational Corporation of Nigeria Plc, has unveiled an alternative energy solution for Nigeria.

Under the multi-level plan, Transcorp is to develop nuclear power plants as alternative energy source for power generation in the country.

The plan will unlock greater value in the country’s power sector, according to Mr Peter Ikenga, the Head of Transcorp’s Energy business.

He spoke while unveiling the Transcorp’s alternative energy plan at a meeting in Abuja with the Minister of Science and Technology, Dr. Ogbonnaya Onu.

Ikenga said Transcorp Energy was seeking to collaborate with the Federal Government, through the Federal Ministry of Science and Technology, to develop nuclear power plants using the OPEN100 model.

“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.

” 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,” he said in a statement given to Persecondnews.

Welcoming the Transcorp team, the Minister restated the commitment of the government to promoting the application of science, technology and innovation within Nigeria in line with the Executive Order No. 5 of the Federal Government.

“We are delighted to see this innovation and appreciate Transcorp for leading the charge in the industry with this initiative.

“The approach by Transcorp to use small scale nuclear plants is catalytic for achieving the national goals on Science and Technology,” Onu said.

The Minister pledged the commitment of the Federal Government, particularly the Ministry of Science and Technology to support Transcorp in the laudable venture and directed that a joint committee comprised of Transcorp, and all the relevant stakeholders be setup immediately to jointly manage 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.

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 business delivering value to all stakeholders while improving lives and transforming Nigeria.

For more information about Transcorp Energy, please visit www.transcorpnigeria.com

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