Nigeria Needs 1 Billion Dollars Annually to Attain 20,000 Mw By 2020 – TCN

Transmission-Company-of-Nig

The Managing Director/Chief Executive Officer of the Transmission Company of Nigeria (TCN), Mr. Mark Kast, has said the company is targeting 20,000 megawatts of electricity by the year 2020 and would need $1 billion annually to achieve the target.

Speaking on Wednesday at the public hearing into the activities of the Nigerian Electricity Regulatory Commission (NERC) and Distribution Companies  (DISCOs) as relates to infrastructure and billing by the House of Representatives Committee on Power, Kast noted that the money required is a huge sum.

He noted that the TCN is however having difficulty in attracting funding, and is considering Public Private Partnership (PPP) alternatives. Kast put the current power generation at 4,800 megawatts, with potential for 5,400 mw and 6,000 mw in a very short time if certain adjustments are made.

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