A deal on Afam Power Plc and Afam III Fast Power Limited was yesterday signed by the Federal Government and Transcorp Power Consortium, on a share-sale-and-purchase agreement to add 966 megawatts to the national grid.
The agreement was signed by Director-General, Bureau of Public Enterprises (BPE), Alex Okoh and Chairman of Transcorp Group, Tony Elumelu, at a brief ceremony in Abuja. The event was witnessed by Vice President Yemi Osinbajo, who chairs the National Council on Privatisation (NCP). Osinbajo described the event as a milestone in government’s continued effort to reform the power sector.He said the acquisition of Afam assets by Transcorp Power was first of many new investments in the critical value chain of the industry.
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