Elektron Finance SPV Plc to launch N17 billion infrastructure bond to boost Nigeria’s energy sector 

This bond issuance, which forms part of the company’s N200 billion Bond Issuance Programme, marks a significant step in advancing Nigeria’s energy infrastructure and sustainability goals.

The bond proceeds will support the development of a 30-megawatt (MW) gas-fired embedded generation plant in Victoria Island, Lagos, reinforcing Elektron Energy’s commitment to enhancing power generation and distribution across West Africa.

The company has already partnered with Eko Electricity Distribution Plc (EKEDP) to facilitate stable electricity delivery in key commercial zones.

This 15-year infrastructure bond is fully guaranteed by Infrastructure Credit Guarantee Company Plc (InfraCredit), which holds a prestigious “AAA” rating from Agusto & Co. and GCR.

The guarantee highlights the stability and credibility of the investment, positioning it as a low-risk opportunity for stakeholders.

The Victoria Island Power Limited (VIPL) initiative will introduce:

It will also provide environmental and economic benefits, including lower greenhouse gas emissions, improved air quality, and increased economic activity.

With Nigeria striving for sustainable energy solutions, the bond will enable Elektron Energy to bridge electricity gaps, enhance energy efficiency, and contribute to the country’s economic growth.

As Nigeria embraces renewable energy transitions, this infrastructure bond signals progress toward a more sustainable and efficient power sector.

The Nigerian energy sector is fast growing as the Rural Electrification Agency (REA) recently signed grant agreements with nine renewable energy companies to provide electricity access to 17.5 million Nigerians.