ePointZero to acquire 90% stake in Azura Power Holdings

Abu Dhabi-based ePointZero, a subsidiary of 2PointZero Group, has announced plans to acquire a 90% stake in Azura Power Holdings Limited. Through an acquisition vehicle established with Amaya Capital, ePointZero will purchase the interests currently held by Actis and Africa50. Amaya Capital, which founded Azura in 2010, will retain a 10% minority stake.

Azura Power is a pan-African independent power producer with 752MW of operating capacity. Its current assets include the 461MW Azura-Edo plant in Nigeria, the 116MW Tobene plant in Senegal, and the 175MW CTRG plant in Mozambique. These facilities provide approximately 10% of the baseload power for each respective country's grid.

The acquisition also includes Azura’s development pipeline, which exceeds 1.5GW. Planned projects include an expansion of the Azura-Edo plant in Nigeria, a solar project in Katsina State, and various gas-fired and renewable energy developments in Senegal and Mozambique. The transaction is subject to customary regulatory approvals and closing conditions.