Transgrid Signs Landmark Deal To Acquire Eko DisCo

Transgrid Signs Landmark Deal To Acquire Eko DisCo

In a groundbreaking move for Nigeria’s energy sector, Transgrid Enerco Limited has finalized a Share Purchase Agreement (SPA) to acquire a 60% equity stake in Eko Electricity Distribution Company (Eko DisCo)…READ MORE…

This acquisition marks the first market-driven transaction in the nation’s power sector, ushering in a transformative era for electricity distribution.

Transgrid Enerco, a strategic alliance formed by North South Power Company Limited (NSP), Axxela Limited, and the Stanbic IBTC Infrastructure Growth Fund (SIIF), combines the strengths of leading entities in hydroelectric power generation, gas infrastructure, energy solutions, and large-scale project financing.

Eko DisCo serves key industrial and commercial hubs in southern Lagos State and the Agbara community of Ogun State, making it a critical player in Nigeria’s economic development.

As part of its ambitious vision, Transgrid Enerco aims to modernize Eko DisCo’s operations, enhance customer service, and expand electricity distribution capacity from the current 513MW to 1,500MW within a few years.

Engr. Olubunmi Peters, PhD, Chairman of Transgrid Enerco, shared at the signing ceremony:
“Today’s signing is more than a business transaction—it is a pledge to tackle Nigeria’s energy challenges. With this acquisition, Transgrid Enerco is poised to lead the transformation of electricity distribution through innovative, reliable, and sustainable solutions.

“Our focus will be on modernizing infrastructure, improving access, and supporting economic growth. This acquisition aligns with our mission to empower communities, promote sustainability, and advance economic development through a dependable power supply.”

Renewable Energy and Collaboration at the Core
Transgrid Enerco also plans to integrate renewable energy sources, including solar and hydropower, to set new benchmarks for efficiency and environmental responsibility in the sector.

The acquisition underscores the importance of private-sector investment in revitalizing Nigeria’s energy landscape. Scheduled to be completed by April 2025, the transaction reflects a commitment to transparency, operational excellence, and prioritizing customer satisfaction.

A Vision for the Future
With the support of regulators, stakeholders, and local communities, Transgrid Enerco envisions a future where Nigeria’s energy infrastructure aligns with the needs of its people and industries.

This milestone highlights the collaborative effort required to deliver sustainable energy solutions and drive the nation’s economic growth.

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