15 fire trucks and over 100 firefighters are fighting to keep the fire under control, which, according to pictures, has spread to a nearby building.
"It's a very visible fire causing heavy smoke, which has led to 41 alarm calls" writes the rescue service on X.
The black smoke can be clearly seen from large parts of the million-city, as shown in video clips published by Metro. The fire is said to have broken out early in the morning local time.
According to the newspaper, the rescue service was initially unable to combat the fire because the power supply to the electrical substation was still on.
No personal injuries have been reported. The rescue service is expected to have personnel on site throughout the day.
Residents in the vicinity are advised to close windows and doors.