ePointZero Acquires Majority Stake in Azura Power
ePointZero, a subsidiary of the 2PointZero Group, has announced its intention to acquire a 90% stake in Azura Power, an independent power producer operating across Nigeria, Senegal, and Mozambique. The acquisition is expected to expand ePointZero's presence into Africa’s energy market through ownership interests previously held by Actis and Africa50 via an acquisition vehicle established with Amaya Capital. Azura Power currently operates 752MW of electricity generation capacity, including the Azura-Edo plant in Nigeria (461MW), Tobene in Senegal (116MW), and CTRG in Mozambique (175MW). The company also has a growth pipeline exceeding 1.5GW through gas and renewable energy projects. Electricity demand across Africa is projected to nearly double by 2040, driven by population growth and industrialization. Azura Power receives financial backing from institutions such as the World Bank, IFC, DFC, and others. The company will continue its focus on reliable power supply and community initiatives through programs like 'Power to Change.' ePointZero aims to leverage long-term revenue streams in infrastructure investments.
Topics: Africa Energy Infrastructure Power Generation