Fenchurchgroup

Fenchurch Power Executes Concession Agreement with Lagos State Government for Akute IPP Expansion to 26MW

We are pleased to announce the ex*****on of a landmark Concession and Power Purchase Agreement with the Lagos State Government at Lagos House, Marina.

This agreement marks a pivotal advancement in strengthening critical infrastructure and resolving long-standing capacity constraints in Lagos State. Our affiliate, Aggregate Utilities, as the concessionaire, will invest in and upgrade the Akute Independent Power Plant from its current 12MW capacity to 26MW of operational output.

The expanded capacity will provide dedicated power to the Adiyan and Iju water treatment facilities, securing clean water supply for over 10 million Lagos residents. In addition, surplus electricity will be evacuated into the distribution network within the project area, enhancing grid reliability for surrounding communities.

As underscored by the Lagos State Government, this agreement is structured to reflect current market realities: payments are now performance-based and tied directly to actual, metered supply. This framework drives operational efficiency, minimizes technical and commercial losses, and ensures prudent cost management.

For Fenchurch Group Power, this is more than a contractual milestone. It is a strategic, long-term investment in building a more efficient, accountable, and resilient power ecosystem.

We remain committed to delivering reliable power to public infrastructure, optimizing public sector resources, and unlocking scalable, bankable capacity to meet Lagos State’s growing demand.

April 2026, Lagos House, Marina, Lagos.

Fenchurch Power/Lagos State Government- Partnership for Development

Fenchurch Power Executes Concession Agreement with Lagos State Government for Akute IPP Expansion to 26MW

We are pleased to announce the ex*****on of a landmark Concession and Power Purchase Agreement with the Lagos State Government at Lagos House, Marina.

This agreement marks a pivotal advancement in strengthening critical infrastructure and resolving long-standing capacity constraints in Lagos State. Our affiliate, Aggregate Utilities, as the concessionaire, will invest in and upgrade the Akute Independent Power Plant from its current 12MW capacity to 26MW of operational output.

The expanded capacity will provide dedicated power to the Adiyan and Iju water treatment facilities, securing clean water supply for over 10 million Lagos residents. In addition, surplus electricity will be evacuated into the distribution network within the project area, enhancing grid reliability for surrounding communities.

As underscored by the Lagos State Government, this agreement is structured to reflect current market realities: payments are now performance-based and tied directly to actual, metered supply. This framework drives operational efficiency, minimizes technical and commercial losses, and ensures prudent cost management.

For Fenchurch Power, this is more than a contractual milestone. It is a strategic, long-term investment in building a more efficient, accountable, and resilient power ecosystem.

We remain committed to delivering reliable power to public infrastructure, optimizing public sector resources, and unlocking scalable, bankable capacity to meet Lagos State’s growing demand.

April 2025, Lagos House, Marina, Lagos.

Fenchurch Power/Lagos State Government- Partnership for Development

Africa’s next economic leap will not be determined by ambition alone.

Read the full article here → https://linktr.ee/fenchurchgroupng

It will be determined by whether power infrastructure can scale at the speed of growth.

As digital economies expand, cities industrialise, and energy demand accelerates, the real constraint is no longer vision.

It is ex*****on capacity.

This BusinessDay feature captures a truth many leaders across infrastructure, private capital, and policy already feel:

Africa’s greatest economic opportunity is still being held back by its oldest systems challenge.

The real unlock now sits at the intersection of:

• grid modernisation

• private sector participation

• embedded and distributed power

• transmission discipline

• ex*****on partnerships that can move faster than legacy systems

The winners in the next decade will not simply be energy companies.

They will be the institutions building the rails for economic growth itself.

A strong piece by the Fenchurch team on why infrastructure must now move from national aspiration to private-sector-enabled ex*****on.

What do you believe will unlock Africa’s power infrastructure fastest: regulation, private capital, or ex*****on capability?