Nigeria

Africa50-Project Finance

Africa50's Role


Equity investment.

Partners


Africa50 partnered with Actis, the majority shareholder in Azura Power to invest in Azura-Edo in Nigeria.

Development Impact

  • Azura-Edo provides relief to a sector that has suffered from insufficient generation capacity, which causes widespread and regular power outages, forcing millions of people to rely on costly and polluting diesel generators.
  • The plant provides power to an estimated 14 million people. 
  • Azura and its various partners directly employed up to 1,000 people during the construction of the power station, with many jobs being created in and around the communities as a result of more power being available to local businesses and government.

Environment

The plant provides a cleaner fuel alternative compared to diesel and draws from the country’s reserves of natural gas, a clean-burning transition fuel.

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