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Nigerian TCN secures USD486 million loan for transmission projects [free access]

January 12, 2018

The state-owned Transmission Company of Nigeria (TCN) has completed negotiations with the World Bank for a USD486 million loan for the improvement of transmission infrastructure associated with the Nigeria Electricity Transmission Project (NETAP), which is one of the projects under the Transmission Rehabilitation and Expansion Plan (TREP).

 

Through the TREP, the grid will be expanded to help achieve a peak load of 6,000 MW by early 2018 and at least 20,000 MW within the next four years.

 

The loan amount will lead to completion of several transformers and substations by the first quarter of 2018. The TREP seeks to stabilise, expand and provide flexibility to the distribution companies, to effectively supply electricity.