Elektron Energy, a developer and operator of embedded power infrastructure in Nigeria, has unveiled its 40-megawatt Victoria Island Power project, aimed at providing more reliable and dedicated electricity to businesses in one of Lagos’ major commercial districts.
The company opened the project to customers and business leaders on Thursday, August 27, 2026, during its Victoria Island Power Customer Experience Day.
The event allowed stakeholders to inspect the facility and receive technical briefings on the project ahead of its commissioning.
The Victoria Island Power (VIPL) project is being developed in partnership with Eko Electricity Distribution Company and under a licence from the Lagos State Electricity Regulatory Commission.
The project combines power generation and distribution infrastructure to supply electricity directly to businesses operating across Victoria Island.
Project targets unreliable power supply
Speaking at the event, Elektron Energy’s Executive Director, Business Development, Ayomide Oladapo, said the project was developed to address the longstanding electricity challenges confronting businesses in Victoria Island.
He said businesses had traditionally been forced to rely on unreliable grid supply or expensive self-generation, both of which create difficulties for companies seeking to plan and expand their operations.
“For years, businesses in Victoria Island have had to operate within the constraints of unreliable power, either absorbing the cost and complexity of self-generation or navigating the uncertainty of the grid,” Oladapo said.
“Neither model provides the predictability businesses need to plan, invest and grow with confidence.”
According to him, the VIPL project would provide businesses with dedicated and professionally managed electricity without the operational burden associated with individual generators.
“Victoria Island Power changes that equation. By delivering clean, dedicated, professionally managed electricity infrastructure, we are giving businesses access to reliable power without the burden of fuel logistics, generator maintenance or operational disruption,” he said.
Oladapo added that the ultimate objective was to allow businesses to concentrate on productivity and growth rather than power supply challenges.
Project to deploy Wärtsilä technology
The 40MW facility will utilise Wärtsilä engine technology as part of its power generation infrastructure.
During the customer experience event, the project team provided customers and business leaders with technical information on the generation plant and its distribution network.
Mika Gummerus, Site Manager, Energy Services & Upgrade at Wärtsilä, said the project demonstrated the importance of combining technical expertise with long-term infrastructure planning.
“Victoria Island Power shows what happens when the right technical expertise, infrastructure and long-term planning come together,” Gummerus said.
He said Wärtsilä’s experience in power generation would contribute to delivering a more dependable electricity supply to businesses in the district.
“Wärtsilä brings decades of experience engineering flexible, efficient power generation, and through our partnership with Elektron, we’re applying that expertise to deliver embedded power directly to one of Lagos’ most important commercial districts,” he said.
“It’s a model built on close collaboration, from system design through to operation, and it’s helping make power there more dependable and efficient for the businesses that rely on it.”
Institutional investors back project
The Victoria Island Power project is backed by institutional investors and financiers, including ARM-Harith Infrastructure Fund, the Nigeria Sovereign Investment Authority, InfraCredit and the Bank of Industry.
The financial backing highlights the increasing role of private capital in developing power infrastructure for Nigeria’s commercial and industrial centres.
Elektron Energy said the Victoria Island project builds on its experience in distributed energy infrastructure.
The company previously developed projects including the Rack Centre Independent Power Project and the Ibadan Hybrid Power Plant.
Alternative to diesel generators
According to Elektron, the VIPL network is expected to provide businesses with an alternative to individual diesel-powered generators by supplying locally generated electricity through a professionally managed distribution network.
The company said the project would not only improve electricity reliability but also help reduce businesses’ dependence on diesel generators and provide greater predictability in power costs and supply.
The initiative forms part of Elektron Energy’s wider strategy of bringing power generation closer to consumers and expanding access to dedicated electricity for commercial and industrial customers.
Businesses operating across Victoria Island can register their interest in joining the network ahead of the project’s commissioning.
