ePointZero to buy 90% stake in Azura Power

ePointZero to buy 90% stake in Azura Power

Mon, August 31, 2026 at 3:45 PM GMT+3 2 min read

• 2POINTZERO.AB

ePointZero, a subsidiary of 2PointZero Group, has announced plans to acquire a 90% stake in Azura Power, a pan-African independent power producer (IPP) with 752MW of operating capacity.

The company will enter the African power generation market as a result of this transaction, pending customary regulatory approvals and closing conditions.

No financial terms or expected completion date were disclosed.

The transaction would see ePointZero acquire the ownership interests held by Actis and Africa50 through an acquisition vehicle established with Amaya Capital.

Amaya Capital, which founded Azura Power in 2010, would retain a 10% minority stake.

Azura Power owns and operates assets in Nigeria, Senegal and Mozambique, providing approximately 10% of each country's grid baseload power.

Its operational assets include Azura-Edo in Nigeria with a capacity of 461MW, Tobene in Senegal at 116MW, and CTRG in Mozambique with 175MW.

The company also maintains a growth pipeline of over 1.5GW, aiming to expand its capacity in the coming years through both gas and renewable energy projects.

According to Azura Power, electricity demand in Africa is expected to nearly double by 2040 as population growth, urbanisation and industrial development continue.

Azura Power group CEO Dave Peacock said: "This transaction is a significant milestone for Azura. We are proud of what our teams have built over the past ten years and the confidence shown by ePointZero is a strong endorsement of that achievement.

"I would like to thank our shareholders for their trust, partnership and support throughout that journey. With ePointZero now joining Amaya, Azura is well positioned to build on its strong foundations, broaden its opportunity set and accelerate its growth across Africa's energy sector."

Azura Power has received financing and support from institutions including the World Bank, BII, DEG, DFC, FMO, IFC, MIGA and Proparco.

The company stated it would maintain its focus on providing reliable electricity supply along with its community initiatives through the Power to Change programme.

The deal reflects ePointZero's focus on infrastructure investments supported by long-term revenue streams and predictable demand.

"ePointZero to buy 90% stake in Azura Power" was originally created and published by Energy Monitor, a GlobalData owned brand.