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TransAfam Power
TransAfam Power is a Nigerian power generation plant. TransAfam Power's 2,000 megawatts capacity consists of Afam Power Plc, Afam 3 Fast Power Ltd, and Afam IV & V. History In November 2020, Transcorp Group acquired Afam Power and Afam 3 Fast Power Limited (jointly referred to as Afam GenCo) as a 1000 megawatt capacity plant for ₦105.3bn. In February 2023, TransAfam announced the rehabilitation of its Afam V GT unit 20 Gas Turbine power generating unit to add 138 megawatts to its existing capacity. In May 2023, the 240 megawatts Afam 3-Fast Power Plant was commissioned. In the same month, the Federal Government of Nigeria signed a 20-year Power Purchase Agreement with TransAfam Power, for 726 megawatts capacity from the power plant. Later in May 2024, Tony Elumelu, chairman of TransAfam's parent company, stated at an annual general meeting that N250 billion was being owed by the Federal Government to TransAfam. He had also mentioned a year before that during the Federal Gover ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Watt
The watt (symbol: W) is the unit of Power (physics), power or radiant flux in the International System of Units (SI), equal to 1 joule per second or 1 kg⋅m2⋅s−3. It is used to quantification (science), quantify the rate of Work (physics), energy transfer. The watt is named in honor of James Watt (1736–1819), an 18th-century Scottish people, Scottish inventor, mechanical engineer, and chemist who improved the Newcomen engine with his own Watt steam engine, steam engine in 1776, which became fundamental for the Industrial Revolution. Overview When an object's velocity is held constant at one meter per second against a constant opposing force of one Newton (unit), newton, the rate at which Work (physics), work is done is one watt. \mathrm. In terms of electromagnetism, one watt is the rate at which electrical work is performed when a current of one ampere (A) flows across an electrical potential difference of one volt (V), meaning the watt is equivalent to the vo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transnational Corporation Of Nigeria
Transnational Corporation plc (or Transcorp Group), is a diversified conglomerate with strategic investments and core interests in the hospitality, agribusiness and energy sectors. A publicly quoted conglomerate with a diversified shareholders base of about 300,000 investors, its notable assets include Transcorp Hotels plc owner of Transcorp Hilton Hotel, Abuja and Aura by Transcorp Hotels; Transcorp Power Plc and Transcorp Energy Limited (operator of OPL 281 and AEDC). As of 2023, Transcorp Group’s market capitalization is in excess of N540bn. Origin Transnational Corporation Plc was incorporated on 16 November 2004. The original concept was that Transcorp would be a conglomerate, similar to the South Korean chaebol conglomerates. Transcorp's businesses Transcorp Hotels Transcorp Hotels Plc, formerly Transnational Hospitality & Tourism Services Limited (THTSL), is the hospitality subsidiary of Transcorp. It owns Transcorp Hilton Abuja; the digital hospitality platform; Aura ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tony Elumelu
Anthony Onyemaechi Elumelu (born 22 March 1963) is a Nigerian economist, banker and philanthropist. He chairs Heirs Holdings, Transcorp, United Bank for Africa (UBA) and is the founder of The Tony Elumelu Foundation. In 2020, Elumelu was named on ''Time''s list of the 100 most influential people in the world. Early life Childhood and family Elumelu was born in Jos, Plateau, Nigeria, on 22 March 1963, to Suzanne and Dominic Elumelu, originally from Onicha-Ukwu in Aniocha North Local Government Area of Delta State. An Igbo by ethnicity, he grew up with four siblings, one of whom is Ndudi Elumelu, the minority leader in the Nigerian legislature. Education Elumelu studied Economics at Ambrose Alli University, obtaining a Bachelor of Science with a Lower Second Class (2:2). Afterward, obtained a Master of Science degree in Economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Electric
General Electric Company (GE) was an American Multinational corporation, multinational Conglomerate (company), conglomerate founded in 1892, incorporated in the New York (state), state of New York and headquartered in Boston. Over the years, the company had multiple divisions, including GE Aerospace, aerospace, GE Power, energy, GE HealthCare, healthcare, lighting, locomotives, appliances, and GE Capital, finance. In 2020, GE ranked among the Fortune 500, ''Fortune'' 500 as the 33rd largest firm in the United States by gross revenue. In 2023, the company was ranked 64th in the Forbes Global 2000, ''Forbes'' Global 2000. In 2011, GE ranked among the Fortune 20 as the 14th most profitable company, but later very severely underperformed the market (by about 75%) as its profitability collapsed. Two employees of GE—Irving Langmuir (1932) and Ivar Giaever (1973)—have been awarded the Nobel Prize. From 1986 until 2013, GE was the owner of the NBC television network through its ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nigerian Electricity Regulatory Commission
Nigerian Electricity Regulatory Commission (NERC) is an independent regulatory body with authority for the regulation of the electric power industry in Nigeria. NERC was formed in 2005 under the Obasanjo administration’s economic reform agenda through the Electric Power Sector Reform Act, 2005 for formation and review of electricity tariffs, transparent policies regarding subsidies, promotion of policies that are efficient and environmentally friendly, and also including forming and enforcing of standards in the creation and use of electricity in Nigeria. NERC was instituted primarily to regulate the tariff of Power Generating companies owned or controlled by the government, and any other generating company which has a licence for power generation and transmission of energy, and distribution of electricity. History Electric power generation in Nigeria began in 1896. In 1929, the Nigeria Electric Supply Company (NESCO) was established. In 1951, the Electric Corporation of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Abuja Electricity Distribution Company
Abuja Electricity Distribution Company (AEDC) is a Nigerian electrical company in charge of the distribution and sale of electricity across Federal Capital Territory, Niger State, Kogi State and Nassarawa State. History Following the 2013 divestiture of the federal government from Power Holding Company of Nigeria The Power Holding Company of Nigeria (PHCN), formerly the National Electric Power Authority (NEPA), was a power company owned by the government of Nigeria. It represented Nigeria in the West African Power Pool. During the era when it operated as ..., AEDC became one of the eleven separate companies or entities called Local Electric Distribution Companies or Local Distribution Companies (LDC) that was privatized and handed over to new investors on 1 November 2013. Each company became responsible for handling electricity distribution in each state or region. During this exercise, the Federal Government sold 60 percent shares of eleven distribution companies, including AE ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Transmission Company Of Nigeria
The Transmission Company of Nigeria (TCN) is a federal government owned electric utility company in Nigeria established in 2005. It is headquartered in the Federal Capital Territory in Abuja. It is a member of the West African Power Pool, an agency committed to improving energy flow across ECOWAS member states through joint financing between member countries for better sustainability of power projects within the region. It is in furtherance of this collective objective that the TCN provides bulk power supplies to Republic of Niger, Republic of Benin and Togo. History TCN was among the eighteen companies unbundled from PHCN during the tenure president of Olusegun Obasanjo in 2005 backed by the Electric Power Sector Reform Act (EPSR Act) including six generation companies (GenCos) and eleven distribution companies (DisCos). It was incorporated in 2005 and given a license by the Nigerian Electricity Regulatory Commission in 2006. The company was formed by the government in an effo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
