LASERC, Elektron Deepen Collaboration on Lagos’ 40MW Victoria Island Power Project

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, as Lagos advances efforts to expand electricity infrastructure through private-sector participation.

The visit, which follows the recent issuance of an electricity generation licence to Elektron Energy, provided an opportunity for the regulator to assess progress on the project and engage directly with the engineering and operations teams responsible for its development.

The Victoria Island Power project, developed by Elektron Energy in partnership with Eko Power, is designed to deliver dedicated electricity to businesses across Victoria Island, addressing a critical infrastructure requirement in one of Lagos’ most commercially significant districts.

The facility is scheduled to commence commercial operation in December 2026.

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.

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.

It also demonstrates the practical importance of engagement between regulators and operators as the state’s electricity market develops.

Effective regulation requires an understanding of the infrastructure, technical requirements and operating conditions of the projects it governs. Direct engagement with operators provides regulators with an opportunity to develop that understanding while ensuring that 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.

“LASERC’s role is to ensure that as Lagos opens its power sector to private investment, that investment translates into real, measurable improvements for residents and businesses,” he said.

He added that the commission intends to sustain its engagement with Elektron as the project advances towards commercial operation.

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.

“We see LASERC not as an overseer standing at a distance, but as a partner in getting this right,” he said.

“Reliable power for Victoria Island is the shared goal, and today’s visit is proof that we’re working toward it together.”

The 40MW Victoria Island Power Plant is expected to contribute to improved electricity reliability in the district, where businesses have historically relied on a combination of grid electricity and diesel-powered generation.

By developing dedicated power infrastructure, Elektron Energy aims to provide businesses with a more dependable electricity supply while supporting the state’s wider ambitions for investment-led growth in the power sector.

The company said further regulatory engagements are expected as the facility approaches inauguration and commercial operation.