Transcorp Power Plc
Nigerian power-generation company operating the gas-fired Ughelli Power Plant in Delta State.
Last updated August 26, 2026
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Overview
Transcorp Power Plc is a Nigerian electricity-generation company and a subsidiary of Transnational Corporation Plc, commonly known as Transcorp. Its principal asset is the Ughelli Power Plant, a gas-fired thermal generating station in Ughelli, Delta State, in Nigeria’s Niger Delta region. The plant supplies electricity to Nigeria’s national grid and is described in reference material as the country’s largest fossil-fuel-based power-generating station. The corporate entity was established on 24 September 2012 as Transcorp Ughelli Power Limited. It was formed in connection with Nigeria’s power-sector privatization program, through which the Federal Government transferred selected generation and distribution assets previously associated with the Power Holding Company of Nigeria. On 25 September 2012, the consortium behind Transcorp Ughelli Power Limited won the bid to acquire the Ughelli generating asset for $300 million. The consortium included Wood Rock Energy Resources Limited, Symbion Power LLC, Thomassen Holding Limited, Medea Development S.A., Tenoil Petroleum and Energy Services Limited, and PSL Engineering and Control Limited. Transcorp Power formally took physical ownership of Ughelli Power Plc, the plant’s operating company, at a government handover ceremony on 1 November 2013. Symbion Power later exited the consortium in September 2015. The Ughelli facility predates Transcorp’s ownership by several decades. Its earliest section was built in 1964 with two Stal-Laval gas turbines providing a combined 72 megawatts, and operations began in 1966. Under the Electricity Corporation of Nigeria, the first section was known as Delta I. Additional General Electric Frame 5 gas turbines were installed in 1975 and 1978, creating the Delta II and Delta III sections and bringing the station’s capacity to 312 megawatts. In 1991, six General Electric Frame 9 turbines were added, providing a further 600 megawatts. Between 2000 and 2008, the Delta II and Delta III units were upgraded by Hitachi, while their control systems were modernized to computerized Mark V systems. Delta I was eventually scrapped, and the Delta IV control system was also upgraded to Mark V technology by General Electric. The modernized station has an installed capacity of 972 megawatts and is described as capable of producing approximately 2,500 gigawatt-hours of electricity annually. Its infrastructure includes a control room, switchgear room, staff training school, and recreational facilities. Electricity generated at Ughelli is transmitted through conductors into Nigeria’s national grid, making the company part of the country’s central power-supply infrastructure rather than a retail electricity provider. Transcorp Power became publicly listed on the Nigerian Exchange in March 2024. Its business remains centered on thermal power generation, plant operation, maintenance, and the delivery of electricity into the national transmission system. The company’s significance is tied to both the scale of the Ughelli asset and the broader role of privately owned generation companies in Nigeria’s post-privatization electricity market.
History
The Ughelli Power Plant was developed in stages before becoming associated with Transcorp Power. Construction of the earliest section began in 1964, when two Stal-Laval gas turbines were installed with a combined capacity of 72 megawatts. The station began operating in 1966 as Delta I under the Electricity Corporation of Nigeria, an institutional predecessor of the Nigerian Electric Power Authority and, later, the Power Holding Company of Nigeria. Following the formation of the National Electric Power Authority through the merger of the Niger Dam Authority and the Electricity Corporation of Nigeria, six General Electric Frame 5 gas turbines were installed in 1975. This section became known as Delta II. Six additional GE Frame 5 units were added in 1978, creating Delta III and increasing the station’s installed capacity to 312 megawatts. In 1991, six General Electric Frame 9 gas turbines were installed, adding 600 megawatts of capacity. These successive additions transformed the site into a large multi-stage gas-fired generating complex. The plant underwent further technical modernization between 2000 and 2008. Hitachi upgraded the Delta II and Delta III GE units to 150-megawatt stations, and their control systems were replaced or modernized with Mark V computerized systems. General Electric carried out a comparable Mark V control-system upgrade for Delta IV. The original Delta I section was eventually scrapped. These engineering changes formed the basis of the larger generating asset later transferred through Nigeria’s power-privatization program. In 2012, the Nigerian government offered several generation and distribution companies associated with the Power Holding Company of Nigeria for private-sector acquisition. On 25 September of that year, Transcorp Ughelli Power Limited won the bid for the Ughelli Power Plant for $300 million. The bidding consortium comprised Wood Rock Energy Resources Limited, Symbion Power LLC, Thomassen Holding Limited, Medea Development S.A., Tenoil Petroleum and Energy Services Limited, and PSL Engineering and Control Limited. Transcorp Ughelli Power Limited had been incorporated on 24 September 2012, immediately before the acquisition process was completed. The physical handover of Ughelli Power Plc took place on 1 November 2013 at a ceremony hosted by the Federal Government of Nigeria. The transaction made the Ughelli facility an asset of Transnational Corporation Plc’s power subsidiary and placed the plant within Transcorp’s broader business portfolio. Symbion Power subsequently divested from the consortium in September 2015. Under Transcorp Power, the Ughelli station has been presented as a major privately operated thermal generating facility. The plant has an installed capacity of 972 megawatts and is described as capable of producing approximately 2,500 gigawatt-hours per year. Its generating output is transported through the Nigerian transmission network to the national grid. The site includes updated operational and training infrastructure, including a control room, switchgear room, staff training school, and recreational facilities. The company entered another significant phase in March 2024, when Transcorp Power became publicly listed on the Nigerian Exchange. Its identity and operating model remain closely tied to the Ughelli asset: it is a power-generation company rather than a retail electricity supplier, and its principal commercial role is to convert natural gas into electricity for delivery to Nigeria’s national grid.
- 2024
Public listing on the Nigerian Exchange
[1]Transcorp Power became publicly listed on the Nigerian Exchange in March 2024.
- 2015
Symbion Power exits the consortium
[1]Symbion Power divested from the ownership consortium in September 2015.
- 2013
Physical handover of Ughelli Power
[1]Transcorp Power took physical ownership of Ughelli Power Plc on 1 November 2013.
- 2012
Transcorp Ughelli Power Limited is established
[1]The company was founded on 24 September 2012 in connection with the acquisition of the Ughelli generating asset.
- 2012
Acquisition bid is won
[1]The Transcorp-led consortium won the $300 million bid for Ughelli Power Plant on 25 September 2012.
- 2008
Completion of major plant upgrades
[1]Upgrades carried out from 2000 to 2008 modernized Delta II and Delta III equipment and introduced computerized Mark V control systems.
- 1991
Installation of Delta IV units
[1]Six GE Frame 9 turbines with a combined stated capacity of 600 megawatts were installed.
- 1978
Delta III expansion
[1]Six more GE Frame 5 turbines were added, bringing stated installed capacity to 312 megawatts.
- 1975
Delta II expansion
[1]Six General Electric Frame 5 gas turbines were installed, expanding the station beyond its original configuration.
- 1966
Ughelli begins operations as Delta I
[1]The original station began operating under the Electricity Corporation of Nigeria as Delta I.
Products and positioning
A major Nigerian thermal power generator focused on operating the Ughelli gas-fired plant and supplying electricity to the national grid.
Grid electricity generation
Ughelli Power Plant electricity
Electricity generated by the Ughelli gas-fired thermal station and delivered through Nigeria’s transmission network to the national grid. The plant has a stated installed capacity of 972 megawatts and is described as capable of generating approximately 2,500 gigawatt-hours annually. Its operating infrastructure includes generating turbines, an updated control room, switchgear facilities, and computerized control systems.
Brand decisions
2024
Become publicly listed on the Nigerian ExchangeStrategyBackground
After operating as Transcorp’s power subsidiary, the company entered the public capital market.
Action taken
Transcorp Power was listed on the Nigerian Exchange in March 2024.
Aftermath
The listing made the power-generation company a publicly traded Nigerian enterprise; the available reference does not specify the listing price, ticker, or proceeds.
2012
Acquire the Ughelli Power Plant through Nigeria’s privatization programM&ABackground
Nigeria was privatizing selected generation and distribution assets associated with the Power Holding Company of Nigeria. A consortium led by Transcorp Ughelli Power Limited sought the Ughelli generation asset.
Action taken
The consortium won the acquisition bid on 25 September 2012 for $300 million.
Aftermath
The transaction placed the Ughelli generating station within Transcorp’s power portfolio and was followed by the formal physical handover in November 2013.
Acquisition bid value. $300 million (25 September 2012)
Sources1 sources
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