Abu Dhabi's 2PointZero unit acquires 90% stake in Africa's Azura Power
A unit of Abu Dhabi's 2PointZero Group is acquiring a controlling stake in African power generation company Azura as it continues to expand its global portfolio of specialised energy infrastructure assets. The investment holding company will acquire a 90 per cent stake in Azura Power Holding through its wholly owned subsidiary ePointZero, which will give it access to some of the largest energy…
2PointZero Group's Abu Dhabi-based subsidiary, ePointZero, has acquired a 90% stake in African power generation company Azura Power Holding. The investment allows ePointZero to access some of the largest energy markets in Africa. The remaining 10% of Azura Power will be held by Amaya Capital, Azura's founding partner, who will retain a minority interest.
Completion of the deal is contingent on regulatory approvals and closing conditions. 2PointZero managing director Mariam Almheiri stated that the acquisition would strengthen their presence in a region with high energy demand, economic growth, and long-term opportunity. Africa's electricity demand is expected to nearly double by 2040, with current access remaining at around 55% in Sub-Saharan Africa.
Azura Power has a presence in Nigeria, Senegal, and Mozambique, with 752 megawatts of operational capacity across three countries. The company currently generates about 10% of the grid baseload power in each of these nations through assets like Azura-Edo, Tobene, and CTRG, all under long-term power purchase agreements. Additionally, Azura Power has an active development pipeline of over 1.5GW, which could more than triple its operational capacity in the coming years.
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- Abu Dhabi's 2PointZero unit acquires 90% stake in Africa's Azura Power thenationalnews.com
