ENERGY SHAKE-UP: TRANSGRID ENERCO ACQUIRES 60% STAKE IN EKO ELECTRICITY DISTRIBUTION COMPANY
Transgrid Enerco Limited, a consortium formed by North South Power Company Limited (NSP), Axxela Limited, and the Stanbic IBTC Infrastructure Growth Fund (SIIF), has signed a Share Purchase Agreement (SPA) to acquire a 60% equity stake in Eko Electricity Distribution Company (Eko DisCo). Eko DisCo is Nigeria’s second-largest electricity distribution company.
The SPA was signed on January 21, 2025, and the transaction is expected to be finalized by April 2025. Reports earlier this month revealed that West Power and Gas Ltd (WPG), the parent company of Eko DisCo, had been negotiating the sale of its entire stake. The Transgrid Enerco consortium emerged as the preferred bidder in a process that began over a year ago. Although the financial terms of the deal remain undisclosed, industry ins...









