Transcorp Consortium (TRANSCORP) announced the 100% acquisition of the 966MW installed capacity Afam Power Plc and Afam Three Fast Power Limited, at an acquisition cost of N105.3bn.
The Vice President, Professor Osinbajo, said "Today marks a milestone for the country with a return to private sector investment in the power sector. This investment by Transcorp in acquiring ‘Afam Power Plc’ and 'Afam Three Fast Power’ is the first of many new investments planned in the sector across the value chain. We expect that under Transcorp’s ownership the operational capacity of the facility will be raised to its full capacity.”
Afam Power is a 1000MW capacity power plant.
