ePointZero Acquires Stake in Azura Power Across Nigeria and Other Countries

en.Wedoany.com Reported - ePointZero, a subsidiary of the 2PointZero Group, has announced plans to acquire a 90% stake in Azura Power, a pan-African independent power producer. Azura Power operates power plants with a combined installed capacity of 752MW in Nigeria, Senegal, and Mozambique. The transaction did not disclose financial terms or the expected completion timeline.

The acquisition will be carried out through a vehicle jointly established by ePointZero and Amaya Capital, targeting the stake in Azura Power held by Actis and Africa50. Amaya Capital, which founded Azura Power in 2010, will retain a 10% minority stake after the transaction is completed.

Azura Power owns and operates power plants in Nigeria, Senegal, and Mozambique, providing approximately 10% of the grid base-load electricity in each of these three countries. Its operational assets include the Azura-Edo plant in Nigeria (461MW), the Tobene plant in Senegal (116MW), and the CTRG plant in Mozambique (175MW). The company also has a growth pipeline of over 1.5GW, with plans to expand capacity in the coming years through natural gas and renewable energy projects.

Azura Power stated that, driven by population growth, urbanization, and industrial development, electricity demand in Africa is expected to nearly double from current levels by 2040.

Dave Peacock, Group Chief Executive Officer of Azura Power, stated that ePointZero's confidence in the company is a strong endorsement of the team's achievements over the past decade, and he thanked shareholders for their long-term cooperation and support. With ePointZero joining, Azura will build on its existing foundation to broaden its scope of opportunities and accelerate its growth in Africa's energy sector.

Azura Power has previously received financing support from institutions including the World Bank, British International Investment (BII), German Investment and Development Company (DEG), U.S. International Development Finance Corporation (DFC), Dutch Development Finance Company (FMO), International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and French development finance institution Proparco. The company stated that it will continue to focus on providing reliable power supply and carrying out community initiatives through the Power to Change program.

This transaction reflects ePointZero's focus on infrastructure investments backed by long-term revenue streams and predictable demand.