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Focus Sectors & Criteria
We prioritize investment in the power, ICT, transport, and midstream gas sectors.
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Investment Vehicles
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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Innovation Challenge
Join Africa50 in finding innovative solutions to respond to Africa’s most critical and pressing infrastructure challenges.
Nigeria
Africa50-Project Finance
Azura-Edo was the first large privately financed independent power plant built in Nigeria since the reform of the country’s power sector. The project sells power under a 20-year power purchase agreement to the Nigerian Bulk Energy Trader (NBET).
Phase 1 of the 461MW open-cycle gas turbine plant was completed eight months ahead of schedule and commenced commercial operations in 2018.
Africa50's Role
Equity investment.
Partners
Actis and Amaya Capital
Impact
Development
- Azura-Edo provides relief to a sector that has suffered from insufficient generation capacity caused by widespread and regular power outages, forcing millions of people to rely on costly and polluting diesel generators for their power supply.
- The plant provides power to an estimated 14 million people.
Environment
- The plant provides a cleaner fuel alternative to diesel and draws from the country’s reserves of natural gas, a clean-burning transition fuel. In 2019, Azura-Edo avoided over 60,000 tons of CO2 emissions.
Employment
- Azura-Edo and its various partners directly employed up to 1,000 people during the construction of the power station, with many jobs created in and around the communities as a result of more power being available to local businesses and government.