Elektron Finance SPV Plc, a funding car established by Elektron Power Improvement Methods Restricted (EEDSL), is about to launch a Collection 1 N17 billion Senior Assured Fastened Price Infrastructure Bond, maturing in 2040.
This bond issuance, which types a part of the corporate’s N200 billion Bond Issuance Programme, marks a big step in advancing Nigeria’s power infrastructure and sustainability targets.
The bond proceeds will help the event of a 30-megawatt (MW) gas-fired embedded era plant in Victoria Island, Lagos, reinforcing Elektron Power’s dedication to enhancing energy era and distribution throughout West Africa.
Strategic Funding in Power Improvement
The corporate has already partnered with Eko Electrical energy Distribution Plc (EKEDP) to facilitate secure electrical energy supply in key industrial zones.
This 15-year infrastructure bond is totally assured by Infrastructure Credit score Assure Firm Plc (InfraCredit), which holds a prestigious “AAA” score from Agusto & Co. and GCR.
The assure highlights the steadiness and credibility of the funding, positioning it as a low-risk alternative for stakeholders.
Key Options of the Undertaking
The Victoria Island Energy Restricted (VIPL) initiative will introduce:
- A 30MW gas-fired embedded era plant, lowering reliance on diesel turbines.
- A devoted 5km distribution community, serving main industrial areas in Victoria Island.
- Lengthy-term Energy Buy Agreements (PPAs) with distinguished industrial off-takers and EKEDC.
It would additionally present environmental and financial advantages, together with decrease greenhouse gasoline emissions, improved air high quality, and elevated financial exercise.
Strengthening Nigeria’s Power Safety
With Nigeria striving for sustainable power options, the bond will allow Elektron Power to bridge electrical energy gaps, improve power effectivity, and contribute to the nation’s financial progress.
- This initiative aligns with broader nationwide efforts to speed up infrastructure investments and promote clear power adoption.
- Elektron Power Improvement Methods Restricted continues to broaden its power portfolio, leveraging strategic partnerships and modern financing fashions to ship dependable electrical energy throughout the area.
As Nigeria embraces renewable power transitions, this infrastructure bond indicators progress towards a extra sustainable and environment friendly energy sector.
What you must know
The Nigerian power sector is quick rising because the Rural Electrification Company (REA) lately signed grant agreements with 9 renewable power firms to supply electrical energy entry to 17.5 million Nigerians.
- That is the primary collaboration underneath the World Bank-funded Distributed Entry by Renewable Power Scale-Up (DARES) venture, following its official launch in 2024.
- The Managing Director of REA, Abba Aliyu, who spoke on the signing ceremony in Abuja on Monday, April 29, 2025, stated the venture aimed to impress 17.5 million Nigerians by deploying 1,350 mini-grids.
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