Isolo Power Gen Limited secured approval from LASERC and will develop a 9MW embedded power project in Lagos State.
LASERC approved the company in its latest licensing round and selected 14 operators.
The regulator cleared only Isolo Power Gen under the embedded generation category for a 9MW project.
Project Location And Supply Model
The company will build the facility at 110/114 Apapa–Oshodi Expressway in Isolo, Lagos.
It will supply electricity directly to Isolo and nearby communities through a local network.
The embedded generation model produces power locally and distributes it within the same area.
As a result, it improves reliability and reduces transmission losses for users.
If the company completes the project, residents may enjoy more stable near-24-hour electricity.
Isolo Power Gen Ownership Structure
Meanwhile, Isolo Power Gen Limited includes Westfield Assets Limited from the British Virgin Islands in its ownership structure.
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It also partners with Camara Exim Limited, Chellarams Plc, and Suresh Chellaram.
Regulatory Pipeline And Market Growth
In parallel, LASERC continues reviewing about 40 applications across different power segments.
These applications cover embedded generation, captive power, and mini-grid projects across Lagos State.
For example, developers propose a 10MW plant in Epe and a 24MW project at Takwa Bay.
They also plan a 30MW facility in Agidingbi and a 50MW project in Ibeju-Lekki.
Consequently, the growing pipeline signals strong investor interest in decentralised power solutions.
In addition, this interest concentrates in Lagos industrial zones and high-demand corridors.
Finally, the Lagos State Government created LASERC under the Lagos Electricity Bill 2024.
It also empowered the commission through reforms that allow states to regulate electricity markets.
