UAE's ePointZero Acquires 90% Stake in Azura Power
en.Wedoany.com Reported - Abu Dhabi-based company ePointZero has reached an agreement to acquire a 90% stake in pan-African independent power producer Azura Power. Through this, it gains exposure to a combined 752 MW of operating generation capacity in Nigeria, Senegal, and Mozambique, further expanding its energy infrastructure platform.
Azura's three operating plants are located in Nigeria, Senegal, and Mozambique, with installed capacities of the 461 MW Azura-Edo facility, the 116 MW Tobene plant, and the 175 MW CTRG plant, respectively. Together they form 752 MW of capacity and, backed by long-term power purchase agreements, each provides approximately 10% of grid baseload power in its respective market. Azura also holds a development pipeline of more than 1.5 GW, covering natural gas, renewable energy, and battery storage.
In this equity transfer, the shares held by Actis and Africa50 will be taken over by an acquisition vehicle jointly established by ePointZero and Amaya Capital, Azura Power's founding partner. Amaya founded Azura in 2010 and will retain a 10% minority stake after the transaction. Financial terms were not disclosed, and the transaction remains subject to regulatory approvals and other closing conditions.
ePointZero's strategic investment in Egypt's Elsewedy Electric complements this Azura Power acquisition. Elsewedy Electric already has a relatively mature industrial and EPC business footprint in Africa. As ePointZero expands its presence in the African energy market, these investments further extend its coverage in power generation and infrastructure construction.
