Victoria Island Power: The 40 MW Plant Rewriting the Rules of Commercial Power in Lagos.
Backed by institutional capital, international engineering expertise and growing commercial demand, the project demonstrates Elektron Energy’s 40 MW Victoria Island Power project is advancing towards commercial operation in Q1 2027.
Aerial view of the Victoria Island Power Plant, where construction is progressing ahead of planned commercial operations At the Victoria Island Power Plant in Lagos, three Wärtsilä gas engines have been installed, marking a significant milestone in the development of a major new power generation facility.
Supporting infrastructure, from treatment facilities to electrical systems, continues to advance, while a dedicated 12.6-kilometre underground network has been developed to distribute electricity to businesses across one of Nigeria’s most important commercial centres.
In September 2026, the project achieved another significant milestone when the Lagos State Electricity Regulatory Commission (LASERC) granted Elektron Energy a generation licence, strengthening the project’s regulatory foundation as construction and preparations for commercial operation advance. The project’s significance lies in the problem it is built to solve. For decades, unreliable electricity has been one of the defining costs of doing business in Nigeria. The scale of the challenge was laid bare in mid-October 2026, when national grid generation fell from 3,840 MW to 476.7 MW within six hours – an 87.6% drop that triggered outages across the country.
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