Industry News

Technology group Wärtsilä has been awarded a significant contract to supply and operate a new 30 MW power plant on Victoria Island, Lagos. The deal was booked in Q4 2024.

The project is driven by Victoria Island Power Ltd. (VIPL), a special purpose company incorporated by Lagos-based Elektron Energy. Wärtsilä will assume single-point responsibility for the Engineering, Procurement, and Construction (EPC), in addition to providing a five-year Operation and Maintenance (O&M) agreement.

The natural gas-fueled plant will use three efficient Wärtsilä 34SG reciprocating internal combustion engine (RICE) generator sets, with configuration space for future expansion. It will be embedded within the Eko Electricity Distribution Company (EKEDC) network to enhance power reliability.

Elektron Energy Co-CEO Deen Solebo noted the project is pioneering for Nigeria. Funding partners include ARM Harith Infrastructure Fund LP, Nigerian Sovereign Investment Authority, and InfraCredit, showcasing strong local and institutional investor confidence. Commissioning is expected approximately 15 months after construction starts in Q2 2025.