₦airaland Forum

A new 30 MW gas-fired power plant is set to be constructed on Victoria Island, Lagos, as part of a partnership between Nigerian independent power producer Victoria Island Power Ltd. (VIPL) and global energy technology firm, Wärtsilä.

According to a statement by Katri Pehkonen, Wärtsilä Energy’s Communications Manager, the firm will supply the power generation equipment and assume responsibility for operating and maintaining the plant for five years. The engineering, procurement, and construction (EPC) contract, along with the operations and maintenance (O&M) agreement, were awarded to Wärtsilä by VIPL—a special purpose vehicle established by Lagos-based Elektron Energy for the project. The equipment contract was booked by Wärtsilä in Q4 2024.

The power plant, to be embedded within the Eko Electricity Distribution Company (EKEDC) network at its NEPA Close Site, will run on natural gas and is intended to enhance electricity supply reliability for EKEDC consumers. VIPL has also secured power purchase agreements (PPAs) with individual customers using a service-based tariff model.

“Elektron has conceptualised, developed, and funded the IPP and has secured the implementation by engaging Wärtsilä to assume single-point responsibility for the major construction and operational aspects related to the eventual power generation facility,” said Deen Solebo, Co-CEO and CFO of Elektron Energy.

“This pioneering project relies on reciprocating internal combustion engine (RICE) technology that has the efficiency and flexibility to deliver clean and reliable electricity to our customers.”
Solebo added that progress at the construction site was on track.

“I was very 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 and am happy with the readiness of the engine-generator sets. In parallel, clearing and preparation activities at the NEPA Close Site are progressing well and are due for completion within Q2 2025, after which construction can start. Commissioning is expected 15 months thereafter and the Operations & Maintenance agreement is timed to commence prior to the new build project reaching commercial operations date (COD).”

Wärtsilä says the project reflects a broader interest from developers and financiers in modular, locally supported power solutions.

“Wärtsilä’s core competence in the engine power plant and services aspects represents a unique combination of a global company with a local presence that provides developers and financiers the comfort to invest and gives end-customers the confidence to sign up for PPA’s with medium to long-term tenures,” said Marc Thiriet, Energy Business Director, Africa at Wärtsilä Energy.

The new facility will comprise three Wärtsilä 34SG gas engine-generator sets and associated auxiliaries. The modular plant design includes provision for a fourth unit to be added later with minimal disruption.

Elektron Energy acknowledged its funding and institutional partners, including ARM Harith Infrastructure Fund LP, Nigerian Sovereign Investment Authority, InfraCredit, Bank of Industry, FBN Quest, and Stanbic Infrastructure Partners, for supporting the project.

The plant is the first of its kind in Nigeria in terms of scale, structure, and local financing approach, and is expected to provide a model for future embedded power initiatives in urban centres.

Daniiel:
I have been expecting this kind news be like say na deal Dem use set price tag for ekpa arrest

The plant is the first of its kind in Nigeria in terms of scale, structure, and local financing approach, and is expected to provide a model for future embedded power initiatives in urban centres.

miyagi01:
Tinubu’s lagos

Judge hands out prison time in Enron barge scam

Ex-Enron, Merrill execs sentenced. A repentant Boyle gets nearly four years for his involvement in barge scandal

May 13, 2005

Former Enron executive Dan Boyle was sentenced to nearly four years in prison Thursday, while Robert Furst and William Fuhs, both former Merrill Lynch bankers, received more than three years — all for their roles in the Enron Nigerian barge scam.

Boyle, sentenced to three years and 10 months in prison and fined $320,000, was the only one who appeared repentant about pushing through a sham sale of energy-generating barges to the bank so Enron could pump its earnings and bolster its stock price.

"I'm the only one responsible for my actions and omissions and for the pain I caused each and every person I affected," the Clear Lake resident told the judge. "I'm truly sorry."

https://www.chron.com/business/enron/article/Judge-hands-out-prison-time-in-Enron-barge-scam-1942569.php

rinzaugustine:
Audio power plant, go and check the location there December this year and you won’t find a single block not to talk of equipment ….,Every day, every week same lies and propaganda…spits

Fashola to Nigerians: 'If You Want to Have Stable Electricity Supply, Vote PDP Out in 2015'

Jul 11, 2014.

Lagos State Governor, Mr. Babatunde Fashola, while marking his 2,600 days in office at an elaborate ceremony held at the Blue Roof of the Lagos Television premises, has said voting out the ruling Peoples Democratic Party (PDP) from power in next year’s general election is the only way the country can have stable electricity.

According to The Nation, Fashola said electricity crisis in the country is caused by lack of ideas and insincerity of purpose on the part of Federal Government.

"Yes I agree with you that it is possible to generate electricity and to make sure that everybody in this country has electricity, we have to do the right thing. But you know what, the only way that you and I will have electricity in this country will be to vote out the PDP.

https://thenationonlineng.net/to-have-stable-electricity-vote-out-pdp-fashola/

anonimi:
APC is Audio Propaganda Conmen.

10 years after we listened to Fashola, do we have stable, uniterrupted power in our country

WizardOfNG:
Senseless bitterness and hate can be blinding. Everyone knows there is no State in Nigeria better than Lagos at delivering on announced plan vitually 100%.

Also, there is not APC, PPD, Labour etal at State level. Just the will , or lack thereof, of the Governor to deliver.

pendy79:
Lagos State Governor, Mr. Babatunde Fashola, on Sunday evening boasted that he could provide uninterrupted power supply to Lagos residents between six and eight months.

Fashola spoke at the commissioning of 8.5 megawatts Lekki Independent Power Project (IPP), the fifth of such power projects in the last five years in the state.

The governor said the addition of the Lekki IPP was a testament to the fact that stable power does not require rocket science to achieve in the country.

While challenging power distribution companies in the state, Fashola said, “Let the Eko DISCOs sign a contract with me, giving part of their concessioning to the state government, in about six to eight months, there will be power in all homes in Lagos State,” Fashola said.

He added, “So, let no one say that he has no money to deliver power for the entire country. This is the limit to which the law allows us to do, but we have done this to make a statement that power can be generated. So, when they come with lies that power is impossible, you can tell them that we have power here; we make it possible”.

The project, courtesy of the state government, in partnership with Heritage Bank, is to serve Lagos State Water Corporations in Lekki Phase 1, Oniru, Victoria Island and Ikoyi, as well as over 25km of public lightening in the Lekki axis.

Commissioning the project, Fashola said he felt fulfilled with the conduct of youths that delivered the project, despite the difficulties in getting to the finishing point.

He said it also showed that the money to improve the Nigerian economy is here, “since we don’t need the World Bank to come and do this for us.”

Also, General Manager, Lagos State Electricity Board, Damilola Ogunbiyi, said the state had shown that reliable and sustainable power projects are possible through the youths.

Ogunbiyi said though it had been a successful story, the state was just scratching the surface in its “aggressive development plan” in the area of power.

Promoter of the project, Faruk Agoro noted that the new IPP was an innovative idea of world-class natural gas-fired power generating facility, sold to the government by youths and it was bought into, to support government institutions, especially in the area of water supply and security.

The Lekki IPP is 8.5 megawatts, with the capacity for 30 megawatts.

This brings the Lagos IPPS to a total of 47 megawatts of electricity in total, powering several public institutions around the state.

The generated megawatts is however still a far cry from the over 10, 000 megawatts power deficit in the state.

http://dailyindependentnig.com/2015/03/can-provide-stable-power-eight-months-fashola-boasts/

Tjra:
This is the sort of deals every reasonable governor should be sealing.

rinzaugustine:
Audio power plant, go and check the location there December this year and you won’t find a single block not to talk of equipment …., Every day, every week same lies and propaganda…spits

mejetov422:
Only in Lagos

anonimi:
I agree with you that senseless bitterness and hate can make someone blind in Stockholm syndrome fashion, to the deprivations of basic things as he rationalises it away in different ways.

What do you have against holding overpaid political office holder and leaders looters accountable?

jaxxy:
why not the whole island so as to include lekki and ikoyi?