The Lagos State Electricity Regulatory Commission (LASERC) has strengthened its engagement with private power developer Elektron Energy following an official visit to the company's 40MW Victoria Island Power Plant. This visit comes after the recent issuance of an electricity generation licence to Elektron Energy. The project aims to deliver dedicated electricity to businesses across Victoria Island, addressing a critical infrastructure requirement in one of Lagos' most commercially significant districts.
The Victoria Island Power project, developed by Elektron Energy in partnership with Eko Power, is designed to provide reliable power to businesses in the area. The facility is scheduled to commence commercial operation in December 2026. During the visit, LASERC's delegation assessed progress on the project and engaged directly with the engineering and operations teams responsible for its development.
LASERC's delegation was led by its Chief Executive Officer, Temitope George, and included Adekunle Olopade and Adetunji Adesanya. The officials were received by Elektron Energy's General Manager, Operations, Nicholas Abolo-Tedi, and Director of Engineering, Oladipo Ogunniyi, together with Mika Gummerus, Site Manager for Wärtsilä, the project's engineering, procurement and construction contractor.
The inspection covered construction progress, operational readiness, technical specifications and compliance requirements. This engagement demonstrates the practical importance of collaboration between regulators and operators as Lagos' electricity market develops. Effective regulation requires an understanding of the infrastructure, technical requirements and operating conditions of the projects it governs.
For Lagos, the development of projects such as Victoria Island Power represents an important aspect of the state's efforts to expand electricity supply through investment in dedicated generation and distribution infrastructure. The state's electricity market is advancing through private-sector participation, with regulators working closely with operators to ensure projects progress in accordance with applicable standards.
Speaking during the inspection, George underscored the importance of ensuring that investment in electricity infrastructure delivers tangible benefits. He added that the commission intends to sustain its engagement with Elektron as the project advances towards commercial operation. This commitment to collaboration will help drive progress and ensure that the project meets its goals.
The visit also provided an opportunity for Elektron Energy to demonstrate its commitment to regulatory compliance and the development of infrastructure designed around the needs of the businesses it intends to serve. Abolo-Tedi described the relationship between the company and the regulator as an important part of delivering the project, with reliable power for Victoria Island being the shared goal.
Key points
- LASERC and Elektron Energy strengthen collaboration on the 40MW Victoria Island Power Project.
- The project aims to deliver dedicated electricity to businesses across Victoria Island.
- The facility is scheduled to commence commercial operation in December 2026.
