Company: Transcorp Power
Country: Nigeria
Sector: Electric Utilities
CEO: Peter Ikenga
Website: https://transcorppower.com/
Careers Page: Not publicly listed
LinkedIn: Not publicly listed
Email: Not publicly listed
Headquarters: Ughelli, Delta State, Nigeria (power plant and operations); part of the Transcorp group headquartered in Nigeria
Founded: 2012 (as Transcorp Ughelli Power Limited, following privatization of the National Electric Power Authority’s Ughelli plant); renamed Transcorp Power Limited/Plc in 2023
Valuation/Revenue: $2,166.7m market value (African Business Top 250, 2025); listed on the Nigerian Exchange (NGX) in March 2024
Transcorp Power is Nigeria’s largest gas-fired electricity generating company, operating the Ughelli power plant in Delta State with 972 MW of installed capacity, and is a subsidiary of Transnational Corporation of Nigeria Plc (Transcorp), listed on the Nigerian Exchange since March 2024.
What Does Transcorp Power Do?
Transcorp Power generates electricity for Nigeria’s national grid from its gas-fired Ughelli power station, which the company describes as the largest fossil-fuel-based power generating station in the country, with the capability to produce roughly 2,500 GWh of electricity annually at full capacity. The company sells wholesale power into Nigeria’s electricity market, which is served by government-regulated tariffs and a mix of generation, transmission and distribution companies inherited from the 2013 privatization of Nigeria’s former state power utility, NEPA/PHCN.
Is Transcorp Power Legit?
Yes. Transcorp Power is a subsidiary of Transnational Corporation of Nigeria Plc (Transcorp), a large, long-established Nigerian conglomerate chaired by prominent Nigerian businessman Tony Elumelu, and the power subsidiary itself completed a formal listing on the Nigerian Exchange in March 2024, subjecting it to standard NGX disclosure and governance requirements.
How Big Is Transcorp Power?
With a market value of roughly $2.2 billion as of the African Business Top 250 2025 ranking, Transcorp Power is one of Nigeria’s largest listed power generation companies, operating 972 MW of installed generating capacity from a single major plant — a scale that makes it a significant contributor to Nigeria’s often supply-constrained national electricity grid.
Who Is the CEO of Transcorp Power?
Peter Ikenga serves as Managing Director/Chief Executive Officer of Transcorp Power, having been appointed to the role as part of a broader Transcorp Group leadership reshuffle in which Christopher Ezeafulukwe, the previous Transcorp Power MD/CEO, moved to lead Transcorp’s Abuja Electricity Distribution Company (AEDC) subsidiary following the group’s acquisition of a controlling stake in that distribution company.
Who Owns Transcorp Power?
Transcorp Power is majority-owned by Transnational Corporation of Nigeria Plc (Transcorp), the diversified Nigerian conglomerate chaired by Tony Elumelu, with a public float trading on the Nigerian Exchange following the subsidiary’s March 2024 listing.
Is Transcorp Power Publicly Traded?
Yes. Transcorp Power completed its listing on the Nigerian Exchange (NGX) in March 2024, becoming one of the exchange’s notable power sector listings alongside its history as a formerly wholly-owned Transcorp subsidiary.
How Does Transcorp Power Compare to Its Competitors?
Transcorp Power competes with Nigeria’s other major privatized generation companies (GenCos), including Geregu Power, Egbin Power (owned by Sahara Group), and other gas- and hydro-based generators, for market share in Nigeria’s wholesale electricity market. Its scale and single-plant capacity utilization efficiency are frequently cited by parent group Transcorp as competitive advantages within Nigeria’s power generation sector.
What Has Transcorp Power Been in the News For Recently?
In 2026, Transcorp Power’s CEO reaffirmed the company’s commitment to powering Delta State’s development, reflecting continued community and stakeholder engagement around its Ughelli operations. The broader Transcorp Group has also continued consolidating its position in Nigeria’s power sector, including through its 2024-2025 acquisition of a controlling stake in Abuja Electricity Distribution Company, extending the group’s reach from generation into distribution.
Links
Website: https://transcorppower.com/
Careers Page: Not found
LinkedIn: Not found
Email: Not publicly listed
FAQ
Is Transcorp Power legit? Yes, it is a listed subsidiary of the established Transcorp conglomerate, trading on the Nigerian Exchange since March 2024.
Who is the CEO of Transcorp Power? Peter Ikenga, MD/CEO.
Who owns Transcorp Power? Majority-owned by Transnational Corporation of Nigeria Plc (Transcorp), chaired by Tony Elumelu.
Where is Transcorp Power located? Its main power plant is in Ughelli, Delta State, Nigeria.
Is Transcorp Power publicly traded? Yes, on the Nigerian Exchange (NGX) since March 2024.
How much is Transcorp Power worth? Its market value was approximately $2.2 billion per African Business’s 2025 Top 250 ranking.
How Do I Apply for a Job at Transcorp Power?
As a major Nigerian power generation employer, Transcorp Power recruits for plant operations and maintenance engineering roles at its Ughelli facility, alongside corporate, finance and commercial roles, typically advertised through the broader Transcorp Group’s recruitment channels and its own corporate website, consistent with practice among Nigeria’s other privatized power generation companies.
How Has Transcorp Power Grown Since Privatization?
Transcorp Power’s history reflects the broader story of Nigeria’s 2013 power sector privatization: the Ughelli plant was acquired by Transcorp as Transcorp Ughelli Power Limited in 2012-2013 from the successor entities to the former National Electric Power Authority (NEPA), and the company has since invested in rehabilitating and expanding generating capacity at the plant to reach its current 972 MW installed capacity. Its 2023 rebranding to Transcorp Power and subsequent March 2024 NGX listing marked a shift toward greater public transparency and capital-raising capability as the Transcorp Group has continued consolidating its position across Nigeria’s power generation and, more recently, distribution segments.