Genesis Energy, a pan-African clean energy infrastructure development and asset management company, has reinforced its commitment to deliver sustainable energy to support Nigeria’s energy transition through consistent investment. The company operates the Banana Island Local Grid Project in Lagos, an integrated power generation and distribution network providing reliable electricity to residential and commercial customers. This project aims to reduce dependence on expensive and polluting diesel and heavy fuel oil generators.
The Banana Island Local Grid Project currently records approximately 99 per cent uptime, demonstrating its reliability. Its infrastructure capacity was recently doubled from 15MVA to 30MVA following the commissioning of an expanded substation, strengthening its ability to meet the growing electricity demand within the community. This development is a significant milestone in the company's efforts to provide sustainable energy solutions.
Genesis Energy is also developing Project Echo, the 260MW Ikorodu Power Project, in partnership with the Lagos State Government under the CLEM initiative. The gas-fired power project is designed to deliver reliable, grid-integrated electricity, strengthening power supply across Ikorodu and supporting the development of a more resilient electricity market. The Lagos State Market Operator is the off-taker for this project.
Once operational, the Ikorodu Power Project is expected to improve electricity availability for households, businesses and industries, while stimulating economic activity and supporting the area’s continued development. This project is a significant addition to Genesis Energy's portfolio, further demonstrating its commitment to expanding electricity infrastructure across Lagos State.
Genesis Energy Holding recently received two awards at the 2026 edition of the Lagos Energy Summit, organised by the Lagos State Ministry of Energy and Mineral Resources. The awards include the “Most Impactful Project (Power) Award” and the “Excellence in Energy – Summit Partner Appreciation Award.” These recognitions underscore the company's outstanding contributions to power infrastructure development, energy innovation and investment in Lagos State.
The awards were presented to Genesis Energy Holding during the opening day of the Summit, under the theme, “Lagos Energy Evolution: Transforming the Future.” The recognitions were conferred by Hon. Sabur Akanbi Oluwa, Chairman of the Lagos State House of Assembly Committee on Energy and Mineral Resources, and Hon. Biodun Ogunleye, Commissioner for Energy and Mineral Resources, Lagos State.
Commenting on the awards, chairman and CEO of Genesis Energy, Mr. Akinwole II Omoboriowo, expressed gratitude to Lagos State for giving the company the opportunity to serve. He emphasized that the recognition is both an honour and a call to action – a call to invest more in the energy sector. Mr. Omoboriowo highlighted that the business of energy is a serious affair, and for Genesis Energy, it is not just a business; it is a lifelong commitment to uplifting the country and the continent.
Key points
- Genesis Energy's commitment to sustainable energy solutions in Nigeria through investments in power infrastructure development.
- The company's Banana Island Local Grid Project and Ikorodu Power Project are significant developments in its efforts to provide reliable electricity to residential and commercial customers.
- Genesis Energy received two awards at the 2026 Lagos Energy Summit for its outstanding contributions to power infrastructure development and energy innovation in Lagos State.
