Nigeria secures USD 1.55B for transmission grid expansion
Nigeria: The Transmission Company of Nigeria (TCN) has secured funding of $1.55 billion from multilateral donors which will be used to revive some projects and expand the national transmission grid.
One of the projects to be revived is the Abuja transmission project which includes construction of three substations, and will provide another avenue for power supply through Abuja from Lafia, reports Vanguard.
The company will also increase transformer capacity in Kano, Kaduna, Lagos and Shiroro regions, revive the JAICA project, build numerous transmission lines and increase transmission capacity in many regions of the country.
According to TCN’s Interim Managing Director, the company is working towards realizing 20,000 MW of transmission capacity in the next few years, and is also working with distribution companies to see how to improve their capacity.
The funding will be provided by the World Bank, African Development Bank, Islamic Development Bank, European Union and Japan International Corporation Agency (JAICA).