The Transmission Company of Nigeria (TCN) has secured over $1.4 billion in loans and grants from multilateral development partners to rehabilitate and expand the country’s electricity transmission network.
Ajiboye Oluwagbenga, executive director of transmission service provider at TCN, disclosed this on Thursday at a training workshop in Keffi, Nasarawa State.
He said the financing, alongside internally funded projects, is being used to replace ageing transmission assets and increase the capacity of the national grid.
“Through a blend of internally funded initiatives and over $1.4 billion in multilateral development financing, TCN is systematically rehabilitating aging assets and expanding the transmission network,” Oluwagbenga said.
According to him, TCN has deployed 89 power transformers across its network, adding more than 8,500 megavolt-amperes (MVA) of transformation capacity.
