Lagos Signs $435M Clean Energy Deal to Deliver 150MW Solar Power
The Lagos State Government on Tuesday, October 14, 2025, took a decisive step toward a sustainable energy future by signing a $435 million renewable energy investment deal. Representing Governor Babajide Olusola Sanwo-Olu, the Honourable Commissioner for Energy and Mineral Resources, Mr. Biodun Ogunleye, led the Deal Room event in Abuja where two MoUs were executed to expand renewable access and local manufacturing capacity.
The agreements, signed with the Rural Electrification Agency (REA) and Levene Photovoltaic Technologies Limited, will immediately activate high-impact projects — including a 150MW solar power project by Axiano Solar and a recycling plant by Lexus Photovoltaic Technologies capable of processing more than 2,484 tonnes of material annually.
The partnerships also bring Greenlight Planet, Sun King Nigeria, and Suntisol Energy Africa into Lagos’ energy expansion plan, aiming to reduce import dependence and position Lagos as a regional hub for clean technology and manufacturing.
Engr. K. A. T. Balogun, General Manager of the Lagos State Electrification Agency (LSEA), reaffirmed the state’s commitment to inclusive electrification and sustainable resilience as the projects move from agreement to execution.
With the deals signed in Abuja, Lagos State reaffirms its leadership in Nigeria’s green transition — fostering innovation, enabling private sector participation, and building an energy ecosystem that supports growth, climate action, and local job creation.
