Abu Dhabi-based energy infrastructure platform ePointZero is set to acquire a 90 percent stake in Azura Power Holdings Limited, in a deal that could further strengthen the United Arab Emirates’ footprint in Africa’s fast-growing energy market. ePointZero, a subsidiary of 2PointZero Group, said it is partnering with Amaya Capital to establish an acquisition vehicle for the transaction.
Azura Power is a pan-African independent power producer with more than 750 megawatts (MW) of operating capacity and a development pipeline exceeding 1.5 gigawatts (GW). The company has power generation assets in Nigeria, Senegal and Mozambique, supplying about 10 percent of each country’s grid baseload power, according to ePointZero.
Under the proposed transaction, ePointZero will acquire the respective ownership stakes held by Actis and Africa50, while Amaya Capital, Azura Power’s founding partner, will retain a 10 percent minority stake. The deal is still subject to regulatory approvals and other closing conditions before it can be completed.
Zayed Al Nahyan, chairman of 2PointZero, said reliable electricity remains critical to economic growth and industrial development, describing the investment as part of the group’s strategy to deploy long-term capital into key infrastructure across Africa. Mariam Almheiri, vice-chair and managing director of 2PointZero, added that the acquisition would deepen the group’s presence in markets where rising energy demand is creating long-term investment opportunities.
For ePointZero, Azura Power’s established assets and exposure to markets with significant power needs make the company an attractive addition to its energy portfolio. Azura Power CEO Dave Peacock described the transaction as a major milestone, saying the partnership with ePointZero and Amaya Capital positions the company to expand its opportunities and accelerate growth across Africa’s energy sector. Azura currently operates 752MW across three assets: Azura-Edo (461MW) in Nigeria, Tobene (116MW) in Senegal and CTRG (175MW) in Mozambique.
source: The cable
