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ePointZero, a global energy infrastructure platform and subsidiary of 2PointZero Group, has agreed to acquire a 90% stake in Azura Power Holdings Limited, a pan-African independent power producer operating across Nigeria, Senegal and Mozambique.
Founded in 2010, Azura Power operates in three African countries, specialising in flexible power generation.
It has a total capacity of 752 MW and is working on projects that will add over 1.5 GW. The company collaborates with utilities, governments, and financial institutions to enhance energy infrastructure in Africa.
The acquisition will give ePointZero an immediate foothold in Africa’s power generation market through a platform with 752 MW of operational capacity and a development pipeline exceeding 1.5 GW.
Azura’s existing assets provide critical baseload power, with the company generating around 10% of each country’s grid baseload electricity.
Mohamed Hesham, CEO of ePointZero, said, “We are acquiring a business built on nearly a decade of disciplined execution, with significant opportunity to support its continued growth as demand for reliable power infrastructure across the continent accelerates. Together with our strategic investment in Elsewedy Electric and its established industrial and EPC presence across Africa, our acquisition of Azura Power deepens ePointZero’s capabilities in energy and infrastructure and positions us to pursue new opportunities across Africa’s evolving energy markets.”
Based out of Abu Dhabi, ePointZero invests in energy infrastructure to support industrial development and electrification. Their investments include power generation, pipelines, and energy storage.
Under the transaction, ePointZero has partnered with Amaya Capital, Azura Power’s founding shareholder, to establish an acquisition vehicle that will purchase the respective stakes held by existing investors Actis and Africa50.
Amaya, an Africa-focused principal investment firm that founded Azura Power in 2010, will retain a 10% minority stake in the business. The transaction remains subject to customary regulatory approvals and other closing conditions.
Azura Power’s operating portfolio includes the 461 MW Azura-Edo Independent Power Plant in Nigeria, the 116 MW Tobene power plant in Senegal and the 175 MW CTRG plant in Mozambique. Its projects are supported by long-term power purchase agreements.
The company also has more than 1.5 GW of projects in development, spanning gas-fired generation, renewable energy and battery energy storage systems (BESS). The pipeline includes expansions of existing facilities as well as new projects across African markets.
The acquisition comes as Africa faces a growing need for reliable electricity infrastructure. Electricity demand across the continent is expected to nearly double by 2040, while electricity access in Sub-Saharan Africa remains at roughly 55%, according to the World Bank.
Dave Peacock, Group CEO of Azura Power, described the transaction as a significant milestone for the company and said the partnership with ePointZero and Amaya Capital would position Azura to expand its opportunity set and accelerate growth across Africa’s energy sector.
The announcement comes a few weeks after ePointZero acquired Traverse Midstream Partners for $2.25 billion in cash. This deal gives ePointZero minority, non-operated stakes in two important U.S. midstream assets: a 35% share in the Rover Pipeline and a 25% share in the Ohio River System, both operated by Energy Transfer, a major midstream operator in the U.S.
