Africa50-Project Finance

Africa50’s first investment through a baseload power platform called Azura Power Limited (APL). Tobene Power is a 115 MW combined cycle heavy fuel oil plant based in Senegal which was acquired from Melec Power Gen (MPG). The asset is convertible to gas and has a 20-year power purchase agreement with Senelec. The senior lenders pool includes the IFC, FMO, the Emerging Africa Infrastructure Fund, and the West African Development Bank.



  • The power platform’s current and prospective assets are located in Senegal. MPG assets provide significant baseload generation capacity at competitive tariffs that help close the electricity supply gap.


  • MPG assets have been designed for conversion to natural gas input fuel, which advances progress towards cleaner fuel inputs.


  • Ongoing operations from MPG’s assets will continue to support local employment, tax revenues, and purchase of local goods and services - all of which contribute to labour output.

Africa50's Role

Equity investment


Melec PowerGen (MPG) and Senelec