Elektron Energy Unveils 40MW Embedded Power Project in Lagos
Elektron Energy, an embedded power developer, unveiled its Victoria Island Power (VIPL) project to customers and business leaders in Lagos on Thursday.
The 40-megawatt power plant is designed to provide dedicated, embedded electricity to businesses in Victoria Island.
Speaking at the event, Mr Ayomide Oladapo, Executive Director, Elektron Energy, said businesses in Victoria Island had for years operated amid unreliable power supply.
Oladapo said businesses had either absorbed the cost of self-generation or navigated the uncertainty of electricity from the national grid.
According to him, neither model provided the predictability businesses needed to plan, invest and grow with confidence.
He said the VIPL project would provide businesses with reliable electricity without the burden of fuel logistics, generator maintenance and operational disruptions.
“By delivering clean, dedicated and professionally managed electricity infrastructure, we are giving businesses access to reliable power without the burden of fuel logistics,” he said.
Oladapo said VIPL, designed as a 40MW embedded power network, would provide a reliable and efficient alternative to self-generation.
He said the project would deliver locally generated electricity through a professionally managed distribution network to businesses across Victoria Island.
According to him, the project is designed to reduce businesses’ dependence on diesel while providing greater predictability, affordability and control over energy costs and supply.
He said the project would ultimately give businesses the confidence to focus on growth, productivity and long-term success.
Oladapo said the project was being developed in collaboration with Eko Electricity Distribution Company (EKEDC) under a licence from the Lagos State Electricity Regulatory Commission.
He said VIPL brought together generation and distribution capabilities required to provide dedicated electricity to businesses across Victoria Island.
According to him, the project is backed by institutional capital from ARM-Harith Infrastructure Fund, Nigeria Sovereign Investment Authority, InfraCredit and Bank of Industry.
He said the investment reflected growing confidence in the role of private capital in developing energy infrastructure for Nigeria’s commercial centres.
Oladapo said Elektron was extending its expertise in distributed energy infrastructure to Victoria Island, drawing from projects including Rack Centre IPP and Ibadan Hybrid Power Plant.
He said the VIPL project would be inaugurated in the first quarter of 2027.
Speaking on the strategic partnership, Mika Gummerus, Site Manager, Energy Services and Upgrade, Wärtsilä, said VIPL demonstrated the importance of technical expertise, infrastructure and long-term planning.
Gummerus said Wärtsilä was applying its experience in flexible and efficient power generation through its partnership with Elektron to deliver embedded power to Victoria Island.
He said the project was built on close collaboration, from system design to operation, to make power supply more dependable and efficient for businesses.
Gummerus said VIPL demonstrated Elektron’s broader mission to democratise access to dependable power by bringing generation closer to where businesses needed it.
He urged businesses across the Island to register their interest in joining the network and becoming part of the new power infrastructure.
The event provided attendees with a behind-the-scenes view of the project’s progress and technical briefings on the 40MW power plant.
The event also featured insights into the Wärtsilä engine technology powering the facility and direct engagement with the engineering team ahead of the inauguration.
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