Elektron Energy Secures Licence for Power Generation in Lagos

Elektron Energy Development Strategies Ltd. has secured a licence from the Electricity Regulatory Commission (LASERC) to generate electricity in Lagos State, enhancing private-sector participation in the region's electricity market. Tola Talabi, Chief Executive Officer of Elektron, stated that the licence reflects LASERC’s confidence in the company's capabilities and will support its expansion in power generation.

The licence aligns with Lagos State’s goals to decentralise electricity supply and attract private investments. Elektron is advancing its flagship Victoria Island Power Ltd. (VIPL) project, which is scheduled to commence commercial operations in December 2026.

Phase 1 of the project, developed in partnership with Eko Power (formerly Eko Electricity Distribution Company), will initially generate 40 megawatts, expandable to 70 megawatts. The project aims to supply continuous electricity to major commercial establishments in Victoria Island, reducing reliance on diesel generators.

Elektron has over 14 years of experience in embedded power infrastructure, including the 10.6MW Alausa Independent Power Project operational since 2013.