What Egbin Power does

Egbin Power PLC operates Nigeria's largest thermal power generating station, a 1,320 MW asset located at Ijede/Egbin in Ikorodu, Lagos State, established in 1985. The plant runs six dual-fired 220 MW Hitachi steam turbine generators on a Reheat-Regenerative Rankine cycle, capable of operating on either natural gas or Low Pour Fuel Oil (LPFO), and is cooled using water from deep wells and lagoon sources. The facility contributes approximately 16% of total electricity generated into the Nigerian National Grid and powers an estimated 20 million homes, hospitals, and industrial consumers.

The company's sole commercial off-taker is the Transmission Company of Nigeria (TCN), which purchases electricity in bulk under power purchase agreements and dispatches capacity into the national grid. Revenue is generated through capacity payments and energy dispatch under NERC-regulated tariffs; there is no direct retail relationship with end consumers. Egbin is privately held as a joint venture between Sahara Power Group (Africa's largest privately-run power business) and Korea Electric Power Corporation (KEPCO), following Nigeria's November 2013 power sector privatization. The Sahara Group led operational management and capital deployment, while KEPCO provides technical expertise and knowledge transfer. The JV has committed to scaling capacity toward 5,000 MW.

Beyond power generation, the company operates a portfolio of corporate social responsibility programs targeting the Egbin, Ijede, and Ipakan host communities, including annual medical outreach, a scholarship program (running since 2015), a community football tournament, and a Tech Empowerment Programme launched in 2025 covering digital skills training. The company also operates internal infrastructure including a VendorPortal for procurement and an Oracle-based careers portal. Recent operational challenges include a fatal contractor incident during underwater maintenance in April 2026 that forced the plant offline.

Name

Egbin Power

Legal name

Egbin Power PLC

Website

https://egbin-power.com

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

101–250 employees

Short description

Egbin Power PLC operates Nigeria's largest thermal power station, generating 1,320 MW across six dual-fired Hitachi turbines and supplying approximately 16% of the national grid through the Transmission Company of Nigeria. The asset is jointly owned by Sahara Group and KEPCO since the 2013 privatization.

Ownership category

akta.pro rank

Product category

Thermal Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Electric Services (4911), Engines & Turbines (3510)

akta.pro primary industry

Gas-Fired Steam Turbine (Boiler-Fired) Generation (EUACABAF)

akta.pro secondary industries

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI), Utility-Scale Oil-Fired Steam Power Plants (Residual/Fuel Oil) (EUACACAA)

Keywords

• Thermal power generation
• Electricity generation
• National grid supply
• Bulk power generation
• Power plant operations

Headquarters

HQ city

Ikorodu

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Bulk Electricity Generation and Sales: Egbin Power generates and sells electricity in bulk to the Nigerian National Grid through power purchase arrangements with the Transmission Company of Nigeria (TCN). Revenue is derived from generation capacity payments and energy dispatched to the grid. The company operates as a wholesale electricity supplier to Nigeria's national power infrastructure, with income tied to grid dispatch volumes and capacity availability.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Egbin Power PLC generates bulk electricity at its 1,320 MW thermal power station in Ikorodu, Lagos, using six dual-fired 220 MW Hitachi steam turbine generators running on natural gas and LPFO. Output is supplied to the Nigerian National Grid via the Transmission Company of Nigeria (TCN) under regulated power purchase agreements, contributing over 16% of the country's total electricity generation.

Product overview

Egbin Power PLC operates as Nigeria's largest thermal power generating station, delivering 1,320 MW of electricity across six 220 MW dual-fired turbine units that contribute approximately 16% of the national grid capacity. The core product is electric power generation, with supporting digital platforms including the VendorPortal for procurement management and CSR sub-products encompassing the Tech Empowerment Programme, Scholarship Programme, Medical Outreach Programme, and Community Football Tournament. The company is owned by Sahara Group in partnership with Korea Electric Power Corporation (KEPCO) and operates dual-fired Hitachi turbines capable of running on natural gas and Low Pour Fuel Oil.

Differentiator

Problem solved

Functional benefit

Products and services

• Electric Power Generation Bulk electricity generation from Nigeria's largest thermal power station with 1,320 MW installed capacity across six 220 MW dual-fired Hitachi steam turbine units, supplying approximately 16% of Nigeria's national grid electricity. Power is sold wholesale to the Transmission Company of Nigeria (TCN) under regulated power purchase agreements for redistribution to households, businesses, hospitals, and industrial consumers nationwide.

Quantifiable outcome

• 1,320 MW installed capacity across 6 units of 220 MW each
• +3 more outcomes

Named customers3 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

Two partnerships are on record, tiered core and minor.

• Korea Electric Power Corporation (KEPCO)coreTechnology or Integration · 1 November 2013KEPCO, South Korea's national electricity utility and one of the world's leading power companies, serves as technical partner and co-investor in the Egbin Power joint venture. Provides world-class technical expertise, operational best practices, and technical knowledge transfer for power generation excellence.
• Ceccy HealthminorStrategic or Co-development PartnerHealthcare partner for annual medical outreach programmes, providing healthcare professionals and medical expertise for community health initiatives in Egbin, Ijede, and Ipakan communities.

Scale indicators7 records

Recent moves7 records

Expansion highlights4 records

Others

• Sahara Group: Parent company of Egbin Power and one of Africa's largest privately-held energy conglomerates with operations spanning upstream, midstream, power, and downstream. Owns/operates related power assets (e.g., Afam Power) comparable in scale and technology profile to Egbin.

Direct peers

• Mainstream Energy Solutions: Operates the 1,338 MW Kainji and Jebba hydroelectric plants in Nigeria under concession to the federal government, supplying power to the same national grid via TCN. Comparable scale and grid-supply role to Egbin, though in hydro rather than thermal.
• Azura-Edo Power: Azura-Edo is a 461 MW open-cycle gas-fired IPP in Edo State, Nigeria, selling power to TCN under a 20-year PPA — the same counterparty and regulatory framework as Egbin. Most directly comparable Nigerian thermal IPP peer.
• Qua Iboe Power Plant: ~540 MW gas-fired thermal IPP in Akwa Ibom State, Nigeria, supplying power to the national grid. Operates in the same sector and regulatory framework as Egbin; serves as a benchmark for Nigerian thermal IPP economics.

Broad incumbents

• Eskom Holdings SOC Ltd: South Africa's vertically-integrated state-owned utility, dominant in sub-Saharan African power generation. While national-scale and not a direct competitor, Eskom is the closest large-scale thermal-generation utility in sub-Saharan Africa and a useful comparator for operating model and sector dynamics.
• KEPCO (Korea Electric Power Corporation): South Korea's national electricity utility and 50/50 JV partner in Egbin. KEPCO is one of the largest integrated power utilities globally with extensive overseas IPP investments; the JV relationship makes it a strategic counterpart and adjacent operator in the same technology base.
• Engie Africa: French multinational utility with significant thermal and renewable generation assets across Africa (e.g., West African Power Pool projects). Operates at scale on the continent and is a potential strategic competitor and partner in the same generation technology space.
• Eni Plenitude / Enipower: Integrated power generation operations in Sub-Saharan Africa, including gas-fired and renewable assets. Represents a major international operator in African power generation, with comparable regulatory, off-take, and operational risk profile to Egbin.

Regional players

• Karpowership: Turkey-based operator of floating powerships (gas/HFO) that has supplied power directly to Nigeria's national grid under medium-term PPAs. Competes for incremental generation capacity against thermal IPPs like Egbin in the same Nigerian market.
• Dangote Power: Captive industrial power generation supporting Dangote Group's refinery and fertilizer complex in Lekki, Lagos. While not a grid-supply IPP, it represents a parallel model of large-scale private power infrastructure in Nigeria built by an industrial group.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@egbinpowerplc
• Xx.com/egbinpower
• Facebookfacebook.com/EgbinPower
• LinkedInlinkedin.com/company/egbin-power-plc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Egbin Power