Lagos, Nigeria – August 11, 2025, Elektron Finance SPV Plc a funding vehicle wholly owned by Elektron Energy Development Strategies Limited (“Elektron”), a leading energy infrastructure development group based in Nigeria, is pleased to announce the launch of its ₦200 Billion Bond Issuance Programme and the successful completion of a ₦4.64 Billion 15-year Series 1 Senior Guaranteed Fixed Rate Infrastructure Bond.
The Series I Bond, guaranteed by Infrastructure Credit Guarantee Company Plc (InfraCredit), which is rated “AAA” by both Agusto & Co. and Global Credit Rating Company (GCR), received approval from the Securities and Exchange Commission (SEC).
This bond issuance marks Elektron’s debut in the Nigerian debt capital markets and was well received by a broad base of institutional investors, reflecting strong confidence in Elektron’s infrastructure delivery capabilities.
Proceeds from the bond will be deployed towards the development of the embedded independent Power Project being developed by Victoria Island Power Limited (VIPL), a wholly owned subsidiary of Elektron Power Infracom (EPI), a subsidiary of Elektron.
The Power Project is a 30MW gas-fired embedded generation plant located in Victoria Island, Lagos — Nigeria’s foremost commercial and financial hub. The project features three high-efficiency 10MW reciprocating gas engines from Wartsila, and a 12.6km dedicated electricity distribution network that will supply power directly to the Victoria Island commercial district. While the distribution network is substantially complete, construction of the generation plant has commenced and is scheduled for commercial operations in 2026. The project is a model for de-centralised energy delivery in urban settings, designed to deliver dependable electricity to businesses in one of Nigeria’s most economically critical zones.
“We are especially grateful to InfraCredit for its unwavering support, and to our bondholders for their trust in our vision” remarked Tola Talabi, MD and Co-CEO at Elektron Energy. “Their involvement reflects a shared belief in Elektron’s capacity to deliver sustainable energy infrastructure projects.”
The VI Power Project is being implemented in partnership with the Eko Electricity Distribution Company Plc and backed by capital from InfraCredit, ARM-Harith Infrastructure Fund, Nigeria Sovereign Investment Authority, Bank of Industry, FBNQuest Merchant Bank Limited, and Stanbic IBTC Infrastructure Fund.
The Bond Issuance was led by Vetiva Advisory Services Limited and Anchoria Advisory Services Limited as Lead Issuing Houses, with CardinalStone Partners Limited, ARM Capital Partners, FBNQuest Merchant Bank Limited, and Iron Global Markets Limited acting as Joint Issuing Houses. Custodian Trustees Limited served as Trustee, while legal advisory was provided by Detail Commercial Solicitors and Templars. The bonds were rated by Agusto & Co. and Global Credit Rating Company (GCR).
Elektron remains steadfast in its mission to drive the emergence of a regional energy grid based on cleaner gas and renewable resources.
Elektron Energy Development Strategy Limited (Elektron) is an energy infrastructure company with a pan-African vision, delivering reliable and sustainable energy solutions across urban, commercial, and industrial hubs.
Their vision is to be the leading developer of a resilient domestic energy grid, utilising the best sustainable resources for lasting impact.
Elektron’s projects enhance energy efficiency by reducing reliance on diesel, lowering emissions, powering industries and essential services, and creating jobs — driving a cleaner, more resilient energy future for Nigeria and Africa.
Elektron develops and operates critical energy assets including the Victoria Island Power Project (VIPP), Alausa Power Limited (ALPL), and Ibadan Hybrid Power (IHPL). To learn more about Elektron and its projects, read more on their website at http://www.elektronenergy.com.
