Transcorp-Heirs Energies partnership puts firm in position to boost power generation

Transnational Corporation Plc, Africa’s leading listed conglomerate, says its partnership with Heirs Energies Limited has improved gas supply to its turbines, placing the company in a strong position to ramp up power generation across its plants.

The President/Group Chief Executive Officer of Transcorp, Dr Owen Omogiafo, disclosed this during the company’s third-quarter investors’ call on Tuesday.

“We have eight new turbines that are located in Afam axis in Rivers State. Unfortunately, there were some gas challenges there,” Omogiafo said. “So what did we do as innovative, resilient people? Instead of denying Nigerians more access to power, we took it upon ourselves, with the support of regulators and other strategic partners, including our board, to relocate four out of the eight turbines from Afam to Delta State.”

She said the decision had already begun yielding results as gas supply in Delta is more stable.

“We can generate more power because we have more gas sources in that region, unlike the eastern axis,” she explained. “But things have also improved because as Heirs Energies has improved their gas, they’ve actually brought back to life a gas well which is now providing gas to the turbines that we have left in Afam as well as Ughelli.”

Omogiafo added that both Transcorp Power Plc and Transafam Power Limited remain focused on increasing generation capacity.

“For Transafam, we have successfully relocated four turbines from Afam to Ughelli, and we are finalising all the electrical connections. They’ve all been successfully tied to the grid,” she said. “For Transcorp Power, we target 750 megawatts of available capacity by year end.”

With access to gas supply from Heirs Energies, “we are in pole position to improve our power generation and deliver more reliable electricity to Nigerians.”

The Group recorded a 39% year-on-year increase in revenue, rising from ₦297.7 billion in Q3 2024 to ₦413.4 billion in Q3 2025. Profit Before Tax (PBT) grew by 18%, closing at ₦124.5 billion, compared to ₦105.5 billion in the same period last year.