Tony Elumelu's Heirs Energies Extends Gas Supply to Geometric Power as Abia Enjoys Steady Power
- Heirs Energies has commenced the supply of gas to Aba's Geometric Power Plant
- This development follows ongoing jubilation in Abia over weeks of steady power supply
- The company says it is dedicated to lighting up Nigeria and supporting the journey towards economic prosperity
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Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the stock market.
Heirs Energies has broadened its gas supply operations to cater to the recently inaugurated 188-megawatt power facility managed by Geometric Power Limited in Aba, Abia State.
It would be recalled that the inuaguration and commencement of the operations of the Geometric Power Plant marked a significant development in the power sector in Nigeria.
Since then, residents of Aba and its environs have been enjoying an uninterrupted power supply.
Source: UGC
Supplying gas to Geometric Power Plant
According to The Guardian, Heirs Energies currently serves TransAfam Power Limited, boasting a capacity of 966MW, and First Independent Power Limited (FIPL), which operates at a capacity of 541MW.
Additionally, the company extends its gas provisions to local distribution entities, various gas-dependent industries, and other industrial clients.
The Chief Executive Officer of Heirs Energies, Osa Igiehon, said the company's ability to supply these major power plants demonstrates its dedication to lighting up Nigeria and supporting our country's journey towards economic and social prosperity.
He said:
"We are not just participants in the energy sector; we are facilitators of growth and development, driven by a mission to ensure that Nigeria’s natural resources benefit its people.”
Steady power to fuel progress in Abia
Speaking on the development, energy analyst Wale Ogundeji told Legit.ng that the Geometric Power Plant's provision of steady power supply in Abia State will catalyze multifaceted progress.
He said:
"Reliable electricity fuels economic growth by attracting investments, enabling businesses to operate efficiently, and fostering job creation.
"It enhances education with consistent access to study materials and enables healthcare facilities to function optimally, improving public health outcomes.
"A steady power supply also bolsters social connectivity, empowering communities through enhanced communication and access to information."
Ogundeji added that this will forge a more prosperous future for the state, exemplifying the transformative impact of reliable electricity on society.
Heirs Energies, driven by Tony Elumelu
Established in 2021, Heirs Energies manages OML 17 and its associated infrastructure, directing all gas production from OML 17 to the domestic gas sector.
The Punch stated that the company's gas plant in Agbada, Rivers State, yields an output exceeding 80 MMSCFD (million standard cubic feet per day) of gas.
Heirs Energies operates under the guiding principle of advancing Africa's interests through its natural resources, echoing founder Tony Elumelu's Africapitalism philosophy, which prioritizes delivering economic and social advantages to stakeholders.
Additionally, the company holds stakes in recently listed entities such as Transcorp Power Limited, TransAfam, and Abuja Electricity Distribution Plc, alongside its role as an operator of oil-producing assets, exceeding a production rate of 50,000 barrels of oil equivalent per day (boe/d).
FG to sell five power plants
Meanwhile, the Federal Government, through the Bureau of Public Enterprises (BPE), is looking at selling five power plants under its National Integrated Power Projects for N1.5 billion.
According to Legit.ng, Ignatius Ayewoh, BPE's acting Director-General, confirmed an ongoing discussion to complete the sale.
Ayewoh noted that discussion on the transaction is ongoing, but it is yet to be concluded.
The sale of these assets is expected to attract both domestic and international investors keen on contributing to the modernisation and expansion of Nigeria's energy infrastructure.
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Source: Legit.ng
