Elektron Energy says its 40MW embedded power plant on Victoria Island, Lagos, is almost ready for commissioning, raising hopes for businesses that have spent years dealing with unstable grid supply and the cost of running diesel generators.
The company gave the update during its Victoria Island Power Customer Experience Day on Thursday, where customers, business owners and industry stakeholders toured the facility. Attendees were walked through the technical details of the project, including the 40-megawatt plant, the Wärtsilä engine technology driving it, and how the facility is expected to supply electricity directly to businesses on the island.
The project is being developed in partnership with Eko Electricity Distribution Company (EKEDC) under a licence issued by the Lagos State Electricity Regulatory Commission (LASERC). The plant is designed to give businesses in the commercial district a more reliable alternative to diesel generators and an unstable grid, through a professionally managed distribution network.
For many businesses in the area, unreliable public power has meant heavy reliance on generators, pushing up operating costs through expensive diesel, maintenance and frequent disruptions. Elektron Energy says the new plant will offer a dependable alternative while helping businesses predict their electricity costs more accurately.
Speaking at the event, Elektron Energy's Executive Director of Business Development, Ayomide Oladapo, said businesses in Victoria Island have operated under difficult power conditions for years.
"For years, businesses in Victoria Island have had to operate within the constraints of unreliable power, either absorbing the cost and complexity of self-generation or navigating the uncertainty of the grid. Neither model provides the predictability businesses need to plan, invest and grow with confidence," he said.
"Victoria Island Power changes that equation. By delivering clean, dedicated, professionally managed electricity infrastructure, we are giving businesses access to reliable power without the burden of fuel logistics, generator maintenance or operational disruption. Ultimately, this project is centered on creating the confidence businesses need to focus on growth, productivity and long-term success."
The plant uses Wärtsilä engine technology, which is widely deployed in electricity generation projects around the world because of its operational flexibility and efficiency. Wärtsilä Site Manager for Energy Services & Upgrade, Mika Gummerus, also spoke at the event.
"Victoria Island Power shows what happens when the right technical expertise, infrastructure and long-term planning come together. Wärtsilä brings decades of experience engineering flexible, efficient power generation, and through our partnership with Elektron, we're applying that expertise to deliver embedded power directly to one of Lagos' most important commercial districts," Gummerus said.
"It's a model built on close collaboration; from system design through to operation – and it's helping make power there more dependable and efficient for the businesses that rely on it."
The project has attracted backing from major Nigerian financial institutions, including the ARM-Harith Infrastructure Fund, the Nigeria Sovereign Investment Authority (NSIA), InfraCredit and the Bank of Industry (BOI).
Elektron Energy also announced that businesses interested in connecting to the Victoria Island Power network can begin registering ahead of the plant's official commissioning.
The plant is located in one of Lagos' busiest commercial areas, where businesses have long complained about the cost of self-generation. Diesel prices in Nigeria have climbed in recent years, making generator-based power increasingly expensive for companies that need steady electricity to run offices, banks, hotels and service firms.
Embedded power plants generate electricity within a distribution network, feeding power directly to customers rather than relying on the national grid. The model allows private developers to build and operate generation capacity closer to the point of use, which can bypass some of the transmission losses and instability that affect the wider grid.
Victoria Island hosts a dense concentration of corporate headquarters, financial institutions and international businesses. Power reliability in the area has been a recurring issue, with many firms running generators for long hours each day to maintain operations.
The commissioning date has not been announced. Elektron Energy said only that the plant is nearing completion and that customer registration is now open.
Source: Pulse.ng
