Precious Anga
Lagos — The 40MW Victoria Island Power Plant, developed by Elektron Energy in partnership with Eko Power, is scheduled to commence commercial operations in December 2026 as Lagos intensifies efforts to expand electricity supply through private-sector investment.
The development followed an inspection of the facility by the Lagos State Electricity Regulatory Commission, LASERC, following the recent issuance of an electricity generation licence to Elektron Energy.
The inspection enabled the regulator to assess construction progress, technical specifications, operational readiness and compliance requirements ahead of the plant’s planned commercial launch.
The Victoria Island project is designed to provide dedicated electricity to businesses within the commercial district, which has historically depended on a combination of grid supply and diesel-powered generators.
LASERC Chief Executive Officer, Temitope George, who led the commission’s delegation, said the regulator’s priority was to ensure that private investment in Lagos’ electricity market translated into measurable improvements in power supply.
“LASERC’s role is to ensure that as Lagos opens its power sector to private investment, that investment translates into real, measurable improvements for residents and businesses,” George said.
He added that the commission would maintain engagement with Elektron Energy as the project progresses towards commercial operation.
The LASERC delegation included Executive Member, Engineering and Standards, Adekunle Olopade, and System Operator, Lagos State Independent Operator, LAISO, Adetunji Adesanya.
They were received by Elektron Energy General Manager, Operations, Nicholas Abolo-Tedi, Director of Engineering, Oladipo Ogunniyi, and Wärtsilä Site Manager, Mika Gummerus. Wärtsilä is the engineering, procurement and construction contractor for the project.
The inspection also provided an opportunity for Elektron Energy to demonstrate its readiness to meet regulatory requirements and develop a power facility tailored to the needs of businesses in Victoria Island.
Abolo-Tedi described the relationship between the developer and regulator as critical to delivering the project, saying, “We see LASERC not as an overseer standing at a distance, but as a partner in getting this right.”
“Reliable power for Victoria Island is the shared goal, and today’s visit is proof that we’re working toward it together,” he added.
The 40MW facility is expected to strengthen electricity reliability for businesses in Victoria Island while supporting Lagos State’s broader strategy of attracting private investment into generation and distribution infrastructure.
Further regulatory engagements are expected as the project moves towards inauguration and the targeted December commercial operation date.
