Elektron Energy's 40MW Power Plant to Launch by 2027

Elektron Energy is set to complete its 40 megawatts (MW) Victoria Island Power (VIPL) project by the first quarter (Q1) of 2027, aimed at improving electricity supply for businesses in Victoria Island, Lagos. The company recently hosted a VIPL Customer Experience Day, showcasing the infrastructure designed to deliver dedicated power.

Attendees received technical briefings on the power plant and the Wärtsilä engine technology that will power it. The project is a collaboration with Eko Electricity Distribution Company (EKEDP) and is licensed by the Lagos State Electricity Regulatory Commission (LASERC).

It is backed by institutional capital from ARM-Harith Infrastructure Fund, Nigeria Sovereign Investment Authority (NSIA), InfraCredit, and Bank of Industry (BOI). The VIPL project aims to reduce diesel dependence and provide businesses with predictable, affordable energy costs.

Mr. Ayomide Oladapo, Executive Director of Business Development at Elektron Energy, stated that the plant addresses years of power constraints in the area, allowing businesses to focus on growth and productivity.