L
LequteMan
Guest
Mr. Mack Kast, the Managing Director of The Transmission Company of Nigeria (TCN) on Tuesday at a press briefing in Abuja said the company required 1.5 billion dollars annually to meet the 20, 000 mega watts transmission target by 2020.
"In terms of developing transmission capacity to 20,000 mega watts by the year 2020, our projections indicate that we would need between one to 1.5 billion dollars per year to make that a reality.
"It is a significant amount of money, but we are working hard to find the sources for that money,’’ he said.
He said the TCN was currently working on a five-year expansion plan and an overall 20-year master plan to enable the company to realise the Federal Government’s target of transforming the sector.
Earlier, Chairman of TCN Board, Alhaji Ibrahim Waziri, pledged to ensure zero systems collapse and efficient market operations in line with international best practice.
Waziri said that the TCN was currently working on 165 initiatives and projects aimed at doubling power wheeling capacity from the modest 5,000 to 10, 000 mega watts.
Speaking on the Manitoba contract, he said that the board had put in place machinery to review the milestone deliverables of the contract and set robust annual performance targets for the company.
Manitoba Hydro International (MHI) is a Canadian Electricity Company contracted by the Federal Government to manage the TCN following the privatisation of the sector.
"In terms of developing transmission capacity to 20,000 mega watts by the year 2020, our projections indicate that we would need between one to 1.5 billion dollars per year to make that a reality.
"It is a significant amount of money, but we are working hard to find the sources for that money,’’ he said.
He said the TCN was currently working on a five-year expansion plan and an overall 20-year master plan to enable the company to realise the Federal Government’s target of transforming the sector.
Earlier, Chairman of TCN Board, Alhaji Ibrahim Waziri, pledged to ensure zero systems collapse and efficient market operations in line with international best practice.
Waziri said that the TCN was currently working on 165 initiatives and projects aimed at doubling power wheeling capacity from the modest 5,000 to 10, 000 mega watts.
Speaking on the Manitoba contract, he said that the board had put in place machinery to review the milestone deliverables of the contract and set robust annual performance targets for the company.
Manitoba Hydro International (MHI) is a Canadian Electricity Company contracted by the Federal Government to manage the TCN following the privatisation of the sector.