TCN to Increase Revenue by N700million With Transmission Projects

The Transmission Company of Nigeria, TCN, said it has marked down three key transmission projects which could be completed within six months and would raise its wheeling charges by over N700million.

The TCN  identified the projects to be the installation of a 60MVA, 330/132/33kV power transformer at the Ife transmission substation in Osun state within three months, adding 48megawatts (mw) to the transmission capacity presently at 7,139mw.

The other is the repair and installation of 60 defective 33kV circuit breakers in six months and would enhance the grid wheeling capacity with 28,800megawatt hour (mwh); critical 330kV lines would also be maintained within six months to ensure system stability and revenue earnings.

“These quick win projects would be given highest priority attention in order to improve the network and increase return on investment.These projects when completed will increase TCN wheeling charges by over N700million,” a statement from the firm said.

It added that the decision was reached last week at its management retreat in Abuja where top officials brainstormed on achieving short- term goals.