The Federal Government and Transcorp Power Consortium have signed a share sale and purchase agreement for Afam Power Plc and Afam III Fast Power Ltd, that is expected to add 966 megawatts of electricity to the national grid.
The signing took place at the Presidential Villa, Abuja on Thursday between the Director-General, Bureau of Public Enterprises (BPE), Alex Okoh; and the Chairman of the Transcorp Group, Tony Elumelu, in the presence of Vice-President Yemi Osinbajo, who is the chairman of the National Council on Privatization (NCP).
Osinbajo described the signing as a milestone in the government’s continued effort to accelerate reforms in the power sector.
He said the acquisition of Afam Power Plc and Afam III Fast Power Ltd by the Transcorp Power Consortium was the first of many new investments in the sector across value chain from generation to distribution.
