Africa50 partners with Actis, the majority shareholder in Azura Power, to invest in Azura Edo in Nigeria.
Casablanca 16 December 2019 – Africa50, the pan-African investment platform, announced today that is has invested in the 461MW Azura Edo IPP in Nigeria. Africa50, brings significant power generation experience having invested in several key infrastructure projects across the continent representing over 1,000MW of capacity.
Raza Hasnani, Head of Infrastructure Investments at Africa50 said “We are excited to invest in a mission-critical asset within the Nigerian power market. We have a strong institutional commitment to mobilizing capital for key African infrastructure assets, and look forward to creating value as a shareholder of Azura-Edo.”
Azura Power’s CEO, Alan Muir, commented “We are delighted to have Africa50 as an investor in our Azura Edo power plant. We are excited with the addition of such an African focused investor as one of our shareholders in Nigeria.”
Adrian Mucalov, Partner at Actis, added “We have invested over US$1billion across Africa in the electricity sector- we are deeply committed to the continent. We take our responsibility to the countries, cities and communities in which we operate extremely seriously; and we are excited to be investing in this world-class business that is already directly contributing to the economic growth of Nigeria.”