Azura utilises its project development and financing skills, in addition to the capital and network of our lead sponsor, Amaya Capital, and our co-shareholder American Capital Energy and Infrastructure as well as that of our co-development partners, to develop large scale greenfield and brownfield, gas-fired Independent Power Plants in Nigeria.
We are currently assessing a number of opportunities across Nigeria based upon our assessment of the country’s electricity transmission and gas supply constraints.
Our first project, known as the Azura-Edo IPP, is a 450MW Open Cycle Gas Turbine power station which is the first phase of a 1,500MW power plant facility that we are developing near Benin City, in Edo State, Nigeria. We are developing this project with Aldwych International, African Infrastructure Investment Managers and ARM Investment Management, three pre-eminent Pan-African infrastructure firms with significant experience in the power industry, each of whom will also be equity partners in the project.
Azura's long term vision is to engage in power generation projects that will add over 3,500MW of power accounting for approximately 20% of Nigeria’s projected installed capacity by 2020.
American Capital Energy and Infrastructure is Amaya’s co-shareholder in Azura Power Holdings Limited, the holding company of the Azura-Edo IPP.
American Capital Energy & Infrastructure invests in energy infrastructure assets in high-growth and developed markets, including power generation facilities, gas and power distribution and transmission networks, energy transportation assets, fuel production opportunities, and product and service companies focused on the power and energy sector. The company seeks to invest between $50 million and $200 million in a given opportunity, but has the capability and resources to consider investments even larger.
The team actively seeks opportunities to invest in corporate divestitures, acquisitions of portfolio companies of private equity firms, acquisitions of family-owned or closely held businesses, going-private transactions, and ownership transitions.