| Work Detail |
Technology group Wärtsilä is expected to supply power generation equipment for a new 30 MW Victoria Island Power Plant that is being constructed in Lagos by a Nigerian independent power producer (IPP). Additionally, Wärtsilä is expected to operate and maintain the power plant for a duration of five years on behalf of the customer. Furthermore, the engineering, procurement, and construction (EPC) responsibility, together with the operation and maintenance (O&M) agreement, has been awarded to Wärtsilä by Victoria Island Power Ltd (VIPL). This company is the special purpose company incorporated by Lagos-based Elektron Energy for this project. The equipment supply contract had been booked earlier by Wärtsilä in Q4 2024, Victoria Island Power Plant Project Factsheet Location: Victoria Island, Lagos, Nigeria Capacity: 30 MW Technology: Reciprocating Internal Combustion Engine (RICE) technology. The facility will initially comprise three Wärtsilä 34SG gas engine-generator sets, with provision for one additional engine-generator set in the future. Fuel source: Natural Gas Project developers/owners: Victoria Island Power Ltd. (VIPL), a Special Purpose Company incorporated by Lagos-based Elektron Energy. Elektron Energy (conceptualized, developed, and funded the IPP). EPC (Engineering, Procurement, and Construction) Contractor: Wärtsilä Operations & Maintenance (O&M): Wärtsilä will operate and maintain the power plant for a period of five years. Timelines: Clearing and preparation activities at the site are due for completion within Q2 2025. Construction is expected to start after Q2 2025. Commissioning is expected 15 months after construction commences (estimated Q3/Q4 2026). The O&M agreement is timed to commence prior to the new build project reaching commercial operations date (COD) Funding Partners/Institutional Investors: ARM Harith Infrastructure Fund LP Nigerian Sovereign Investment Authority (NSIA) InfraCredit Bank of Industry FBN Quest Stanbic Infrastructure Partners. The Power Plant to be Embedded within Eko Electricity Distribution Company The power plant running on natural gas will be embedded within the Eko Electricity Distribution Company (EKEDC) at their NEPA Close Site. Additionally, it has been developed via the collaborative efforts of Elektron Energy and their local partners. The upcoming plant will enhance the availability and reliability of power supply to the consumers served by EKEDC. Also, VIPL has secured power purchase agreements (PPAs) with individual customers on a service-based tariff philosophy. “I was impressed by Wärtsilä’s state-of-the-art manufacturing facilities during my visit to the Sustainable Technology Hub in Vaasa, Finland in late Q3 2024 . Indeed I am happy with the readiness of the engine-generator sets. In parallel, clearing and preparation activities at the NEPA Close Site are going on well and are expected to be completed within Q2 2025, after which construction can start. Commissioning of the project is expected 15 months thereafter. As for the Operations & Maintenance agreement, it is timed to commence begin to the new build project reaching commercial operations date (COD)”, Deen summarised.Energy-efficient appliances |
