Focus Sectors & Criteria
We prioritize investment in the power, ICT, transport, and midstream gas sectors.
Bringing project development and financing together in one organization, Africa50 seeks to provide support at every stage of the project cycle.
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Azura-Edo IPP is the first large privately financed Independent Power Producer (IPP) built in Nigeria since the reform of the country’s power sector. It sells power under a 20-year PPA to the Nigerian Bulk Energy Trader (NBET). Phase One of the 461 MW open-cycle gas turbine plant was completed seven months ahead of schedule and commenced commercial operation in 2018.
Africa50 partnered with Actis, the majority shareholder in Azura Power to invest in Azura-Edo in Nigeria.
- 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.
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.