Transcorp Energy Limited is in talks with the Federal Government to establish Nigeria’s first nuclear power plants.
The company disclosed this in a release on Thursday following engagement with the Minister of Science and Technology, Ogbonaya Onu.
Part of the talks revealed by the subsidiary of Transnational Corporation, is the support to boost its integrated energy strategy.
“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,” Peter Ikenga, Head of Transcorp Energy said.
Nigeria has electricity needs estimated in 2020 by the International Energy Agency at 24,439 megawatts, but the country’s total installed capacity from its 22 gas-fired and three hydro plants is 12,522MW.
Analysing the demands, industrial demand is 4,057MW, commercial and public services 6,379MW, while residential demand is 14,003MW.
But so far, only 7,141MW is generated in the country.
Just on June 13, Nigeria’s power generation plunged 29 per cent to 3,112MW from 4,115MW recorded on June 14.
He said the project “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.”
But the energy company said it would take advantage of the OPEN100 blueprint for nuclear power plant.