Multinational Consortium Managing Short Term Energy Supply and Long Term Development
The need for immediate, constant supply of power in Lagos is both imminent and urgent. The current network is heavily overloaded often unavailable. People and businesses need to rely on generators and expensive diesel to provide the electricity for themselves. Demand for energy will double or even triple in the ten years as the population of Lagos Megacity grows from the current 20 million to 30 million.
Lagos Power Solution
A practical plan has been put in place to tackle the immediate supply shortages and sort out the longer term infrastructure programme. Initiated and backed by Lagos State Government this “Lagos Power Solution” is managed by an multi-national consortium comprising of Singapore Power (network design), IHS CERA (commercial and regulatory facilitation), NEW ERA Partners (strategy and programme management) and local Lagos counterparts.
The Lagos Power Solution will plan, facilitate financing and assist in the contracting of tactical, mid and long-term solutions that gets power capacity quickly into Lagos while at the same time planning for an orderly, efficient and effective future.
Initial and Long Term Results
The broad approach of the Power Solution is to deliver power tactically so as to get quick wins and also to gain the experience and reputation to win larger IPP contracts more easily. As the power supply becomes more stable and reliable, we expect to see much improved quality of life for all Lagosians, better safety on the streets and much increased investment from the business community.