Recently, Transcorp and Engie entered into a strategic alliance for the development of solar mini grids in Nigeria. Currently, 45% of the Nigerian population have limited or no access to the national grid. The mini grids on the other hand, with a capacity of 3,000MW and annual revenue opportunity of about US$3Billion, have a huge potential to provide electricity for about 14% of the population.
In light of this new strategic alliance, both companies executed a Memorandum of Understanding (MOU) for the joint development of mini grids in Nigeria. Present at the signing were Transcorp’s Executive Director, Legal and Business Development, Chris Ezeafulukwe and Legal Manager, Humphrey Onyeukwu.
This is one of the ways Transcorp is deepening its play in its commitment to provide 25 % of Nigeria’s electricity