...Strengthening Lagos’ Electricity Infrastructure Through the Banana Island Local Grid and 260MW Ikorodu Power Project
In recognition of its outstanding contributions to power infrastructure development, energy innovation and investment in Lagos State, Genesis Energy Holdings (GENESIS), a leading pan-African clean energy infrastructure development and asset management company, has received two awards at the 2026 edition of the Lagos Energy Summit, organised by the Lagos State Ministry of Energy and Mineral Resources.
The awards presented to Genesis Energy Holding on the opening day of the Summit, at the Landmark Event Centre, Lagos, on Tuesday, November 10, 2026, under the theme, “Lagos Energy Evolution: Transforming the Future.” includes the “Most Impactful Project (Power) Award” and the “Excellence in Energy – Summit Partner Appreciation Award.” The first was conferred on the company by Hon. Sabur Akanbi Oluwa, Chairman of the Lagos State House of Assembly Committee on Energy and Mineral Resources, while the second award was conferred on the company by Hon. Biodun Ogunleye, Commissioner for Energy and Mineral Resources, Lagos State.
The recognition underscores Genesis Energy Holdings’ commitment to advancing reliable electricity supply, developing critical power infrastructure and supporting the transformation of Lagos State’s energy sector through strategic investments and partnerships. Through its subsidiary, GELMAK Power Solutions Ltd, the company operates the Banana Island Local Grid Project in Ikoyi, Lagos, an integrated power generation and distribution network providing reliable electricity to residential and commercial customers. Designed to reduce dependence on expensive and polluting diesel and heavy fuel oil (HFO) generators, the project currently records approximately 99% uptime. Its infrastructure capacity was recently doubled from 15MVA to 30MVA following the commissioning of an expanded substation, strengthening its ability to meet the growing electricity demand within the community.
Further demonstrating its commitment to expanding electricity infrastructure across Lagos State, GENESIS is developing Project Echo, the 260MW Ikorodu Power Project, in partnership with the Lagos State Government under the CLEM initiative. With the Lagos State Market Operator as off-taker, the gas-fired power project is designed to deliver reliable, grid-integrated electricity, strengthening power supply across Ikorodu and supporting the development of a more resilient electricity market. Once operational, the project is expected to improve electricity availability for households, businesses and industries, while stimulating economic activity and supporting the area’s continued development.
Commenting on the awards, Chairman and CEO of Genesis Energy, Mr. Akinwole II Omoboriowo, said: “We want to extend our gratitude to Lagos State for giving us the opportunity to serve. We are most grateful for this recognition, which, for us, is both an honour and a call to action – a call to invest more. The business of energy is a very serious affair. Without energy, there can be no life. For us at GENESIS, it is not just a business; it is a lifelong commitment to uplifting our country and our continent, with Lagos State being at the forefront of that commitment.”
These investments reflect the Group’s alignment with Lagos State’s electricity sector reform agenda, particularly the objectives of the Lagos State Electricity Law 2024, which provides a framework for developing a competitive, transparent and commercially viable electricity market. Since its establishment in 2005, Genesis Energy Holdings has developed and financed clean energy projects across Africa, with operations and project footprints spanning 11 African countries. The company deploys a diverse range of technologies, including solar photovoltaic (PV), battery energy storage systems (BESS), natural gas, wind, hydro and hybrid solutions, to develop reliable and sustainable energy infrastructure for businesses, governments and communities.
Its Nigerian portfolio includes the 84MW gas-fired power project at the Port Harcourt Refinery Complex, one of Nigeria’s largest licensed private off-grid power plants and NIDI project in Kano. In 2025, the Group further expanded its engagement in Nigeria through a US$500 million Memorandum of Understanding with the Katsina State Government for the development, financing, construction, operation and maintenance of major energy infrastructure projects across the State.
With a vision to “Light Up Africa One Community at a Time,” GENESIS remains committed to developing and deploying reliable, affordable and sustainable energy infrastructure that addresses the continent’s growing energy needs. Through strategic investments, innovative technologies and partnerships with governments and private-sector stakeholders, the company continues to advance energy access, strengthen energy security and support economic development across Africa.
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