Elektron Energy is moving ahead with a $50 million power project to strengthen electricity supply for commercial users on Lagos’s Victoria Island.
The 40-megawatt plant, called Victoria Island Power, is expected to start operations in the first quarter of 2027. The company gave business leaders a preview of the dedicated power infrastructure during a recent Customer Experience Day in Lagos.
Elektron’s Executive Director for Business Development, Ayomide Oladapo, said the project targets long-standing power challenges faced by companies in the area. He noted that businesses have long dealt with either the high cost of self-generation or the instability of the national grid, neither of which offers the reliability needed for proper planning and growth.
