The Lagos State Government, in collaboration with Fenchurch Group, has pledged to revive the 26 megawatts Akute Independent Power Plant (IPP). This project aims to provide water to over six million Nigerians. The state Commissioner of Energy and Minerals Resources, Biodun Ogunleye, made this commitment during a stakeholder delegation visit to the Oregun fabrication yard of OEM partner Jubaili Bros Engineering Ltd.
The visit was to inspect engines being containerized for the project. Ogunleye expressed the state's enthusiasm for the project, stating that it will support the broader Lagos State Water Corporation and the Lagos Electrification Market project. He emphasized that the state government is investing significantly in its water production facility and anticipates substantial investment in core power generation.
The Akute IPP project targets 26mw of power specifically to facilitate the water corporation project. However, Ogunleye noted that the power generation capacity can increase as demand for energy arises, potentially scaling up to 100 or 200mw. He expressed confidence in the project's success, citing it as a sample of effective public-private partnership.
Group CEO of Fenchurch Group, Olufemi Bakare, highlighted the importance of power in water production. He stated that Lagos State has invested significantly in its water infrastructure, and their mandate is to keep it running reliably. Bakare thanked the Lagos State Government, Zenith Bank, and Ikeja Electric for their confidence in the project.
Commercial Director of Fenchurch Group, Kemi Ojo, revealed that the company has made 28% of the financial commitment required to complete the project. She stated that they have secured financing from Zenith Bank, which has committed to funding the remaining 80% of the project. The project is expected to be commissioned by Q1 2027.
The Managing Director of Lagos Water Corporation, Muktaar Tijani, represented by Agiri Mustapha, emphasized that the installation of the engines will enhance efficiency in water production. This aspect is crucial for the overall success of the project and the water corporation's operations.
The partnership between Lagos State Government and Fenchurch Group demonstrates a significant effort to address the state's power and water needs. With the project's expected completion in 2027, over six million Nigerians can anticipate improved access to water. The collaboration sets a promising precedent for future public-private partnerships in the region.
Key points
- The Lagos State Government and Fenchurch Group aim to revive the 26MW Akute IPP to provide water to over six million Nigerians.
- The project's power generation capacity can potentially scale up to 100 or 200mw as demand for energy arises.
- Fenchurch Group has made 28% of the financial commitment required to complete the project, with Zenith Bank committing to fund the remaining 80%.
