Eko Disco, Elektron Energy unvail 30MW embedded IPP in Lagos
******* Embedded power plant remains best option, reliable source- EKEDC boss
Jide Onakoya – COO, Elektron Energy, Tinuade Sanda – MD/CEO, Eko Disco, Dere Awosika – Chairman, Med In Pharmaceutical, Dere Otubu – Chairman Eko Disco, Shola Shasore – Permanent Secretary, Lagos State Ministry of Energy and Mineral Resources, Tola Talabi – MD, Elektron Energy, Tariye Gbadegesin – MD, ARM Harith, Tein George – Director, WPG, Bolaji Osunsanya – MD, Axxela, Deen Solebo – CFO, Elektron Energy, KS Narasimha – Senior Business Development Manager, Wartsila
By Yusuf Yunus
Eko Electricity Distribution Company (EKEDC) and Elektron Energy has unveiled 30 megawatts embedded independent power plant to boost electricity supply within residents of Victoria Island in Lagos.
Mr Oritsedere Otubu, Chairman, EKEDC says embedded power project remains the best option for sustainable and reliable power in Lagos.
Otubu said this at the Ground Breaking ceremony of a 30 megawatts embedded Independent power plant in Victoria Island on Tuesday in Lagos.
He said with the project, there would be more power supply to Lagos at cost reflective tarrif.
Otubu said that the project marks a significant milestone, especially with the partnership between Eko DisCo and Elektron Energy toward effect power supply for residents of Victoria Island and its environ.
Otubu said that the construction of the 30 megawatts power plant would also revolutionise the energy landscape in the state, generally.
He said that the need to deliver optimal power supply to Lagosians led to the conversations on the embedded generation in 2015 when Eko DisCo pioneered the project.
He said that the gap in generation, which has been a lingering issue impacting service delivery in value chain, particularly, the ability of DisCos to meet with its service level commitment to customers, led to the project.
“Currently, the industry still records about over 4, 000 megawatts as its peak generation of which studies has shown that the same is not enough to service Lagos State estimated as having a population over 27 million people, let alone the country.
“These real issues contributed to the discussions that culminated into the project,” he said.
Otubu said that the project effectively took off with the invitation of tenders from prospective bidders and Elektron Energy qualified as the preferred bidder for the project.
“The emergence of Elektron Energy birthed the partnership between it and Eko DisCo and that has, over these past years, led to the unlocking of premium power access to Lagosians within Eko Disco’s franchise network.
“That we are here today is a testament to the immense work put in from all quarters.
“I must commend the articulate leadership and firm guidance of the respective Boards and Management teams of Eko DisCo and Elektron Energy, for their vision towards the realisation of this Project,” the EKEDC boss said.
He also said that the investors and financiers had been collaborative from the inception of the project, while appreciating their commitment to join in the partnership to bring additional capacity to Lagosians.
According to him, electricity is the lifeblood of modern society, driving economic progress, empowering industries, and improving the quality of life for citizens.
“However, we still struggle with its challenges.
“Today, we rise to those challenges and embark on a transformative path towards a brighter future through this ground-breaking ceremony that will see to the building of a 30 MW Power Plant to deliver more capacity to Lagosians.
“This Power Plant will employ cutting-edge technologies, ensuring efficiency, reliability, and reduced environmental impact.
“The power generated here will not only meet the current energy demands but also anticipate and accommodate the future needs of Lagosians.
“In addition, the Power Plant will generate countless job opportunities, driving economic growth, and empowering our communities.
“As the construction progresses, we will create employment for local workers, stimulate local businesses, and foster a spirit of empowerment and inclusivity,” he explained.
Otubu said that the project was not only for the communities and stakeholders, but also the gains the project equally extends to the partners.
He said that with a Multi Year Tariff Order (MYTO) load allocation of 513 MW, an addition of 30 MW edges Eko DisCo toward meeting its demand requirement to its customers and with an increased capacity.
Otubu noted that there was an incentive to surpass the demand soon, saying gains which the project presents were humongous with efficient and reliable supply to customers.
Mr Tola Talabi, Chief Executive Officer, Elektron Energy Development Strategies Ltd., said that the the project is a natural gas fired embedded generation plants developed through the collaborative effort of Elektron and EKEDC.
Talabi said that the embedded IPP would supply uninterrupted electricity through dedicated 33KV and 11KV distribution network, exclusively to identified customers.
He said that the project is the first of its kind, where a natural gas IPP would be directly embedded into a Disco’s distribution network for supply to identified end-user customers.
According to him, the 18- months project, when completed, will ensure reliable, affordable electricity to customers.
” The 50 million dollars investment project will demonstrate the viability and accessibility of power supply in Lagos,” he said.
Gov. Babajide Sanwo-Olu of Lagos commended the companies for the bold step to provide uninterrupted power supply in Lagos.
Sanwo-Olu was represented by
Ms Shola Shasore, Permanent Secretary, Lagos State Ministry of Energy and Mineral Resources, said that the project was a welcoming development and urged other companies to follow suit.
He said that “This is what we love to see and we hope it will continue in the state because we desire an affordable power supply.
The Business Intelligence (TBI Africa ) reports that the 30MW Victoria Island embedded Power Plant is ppartnership with by InfraCredit Finance Company, ARM Harith Infrastructure Fund Manager.
Others are Bank of lndustry, EKEDC, FBNQuest Merchant Bank, WARTSILA, Lagos State Government.
