The Transmission Company of Nigeria (TCN) has secured $USD1.55 billion dollars from multilateral corporations, including the World Bank, African Development Bank (AfDB), the Islamic Development Bank, Japan International Corporation Agency (JAICA) and the European Union (EU), for the financing of its transmission expansion projects in Nigeria.The sourcing of funds was designed to realise TCNs ambition of increasing transmission capacity by 20,000 megawatts.
In addition, TCN is collaborating with state governments to resolve the issue of right of way for transmission lines in Nigeria. Asides this, steps are also currently being taken by TCN to address the issue of stranded generation within the transmission system.
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