ePointZero has agreed to acquire a 90% stake in Azura Power Holdings, marking the Abu Dhabi-based energy infrastructure platform’s entry into African power generation through an operating portfolio spanning Nigeria, Senegal and Mozambique.
Azura Power operates 752 MW of generation capacity across three assets and has a development pipeline exceeding 1.5 GW, potentially allowing the company to more than double its operating capacity over time.
The transaction will be executed through an acquisition vehicle established by ePointZero and Amaya Capital.
ePointZero will acquire stakes currently owned by Actis and Africa50, while Amaya, which founded Azura in 2010, will retain a 10% minority interest.
Completion remains subject to customary regulatory approvals and closing conditions.
Azura’s operating assets include the 461 MW Azura-Edo project in Nigeria, the 116 MW Tobene facility in Senegal and the 175 MW CTRG facility in Mozambique.
Collectively, its plants generate approximately 10% of grid baseload power in each of the three countries.
The development pipeline spans gas generation, renewable energy and battery storage projects.
ePointZero sees substantial long-term demand as Africa’s population, urbanization and industrialization increase.
Electricity demand across Africa is expected to nearly double by 2040, while electricity access in Sub-Saharan Africa remains around 55%.
Azura’s existing projects are supported by long-term power purchase agreements and have received financing or support from institutions including the World Bank, BII, DEG, DFC, FMO, IFC, MIGA and Proparco.
KEY QUOTE:
“Azura Power brings together many of the qualities we look for in an energy platform: critical operating assets, an experienced management team and a strong position in markets with significant long-term power needs.”
Mohamed Hesham, CEO Of ePointZero
