Olaniwun Ajayi LP

Our Expertise -

Power & Renewable Energy

Power & Renewable Energy

With climate change as a dominant global conversation, the power and renewable energy sector is experiencing change at a rapid pace. As always, this comes with challenges but also with opportunities that a trusted adviser can help with maximising. Olaniwun Ajayi is that trusted firm that can help with providing the full spectrum of legal support to a diverse range of clients in the Nigerian power sector, including governments, project proponents, investors, financial institutions, operators, suppliers and regulators; with our capability extending through the entire project/plant life cycle. We have expertise in the areas of renewable energy, power generation, and transmission; chemicals/petrochemicals and much more.

The OA team is at the forefront of the renewables space, particularly solar power and wind, where Nigerian legal expertise is rare, having advised on some of the largest photovoltaic projects in the country. We have advised on the development of a utility-scale photovoltaic project in northern Nigeria and a commercial rooftop solar project in the southern part of the country. Our Firm played a key role in approximately 70% of the transactions involving the acquisition of unbundled PHCN assets. We also advised on precedent-setting projects in the independent power space, including the Azura Independent Power Project, as well as a number of subsequent IPPs, encompassing large-scale solar PV and other renewable energy developments across the market.

Insights

Power Wrap Up 2024 and Outlook 2025

2024 marked the 11th year since the privatisation of the Nigerian electricity supply industry. It was also the first full year under the Electricity Act 2023, landmark legislation that has driven significant change, particularly the decentralisation of the electricity market. A decentralised Nigerian electricity supply industry States now have authority to regulate their own electricity markets and to let private investors run power plants within their borders. In 2024, Ekiti, Enugu, Imo, Ondo, Oyo and Lagos all moved to establish their own m...

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