January 30, 2015 12:07 PM ET

Electric Utilities

Company Overview of Azura Power West Africa Ltd

Company Overview

Azura Power West Africa Ltd. operates as a power development company that develops, constructs, acquires, and operates power generation facilities in West Africa. The company develops large scale Greenfield and Brownfield, and gas-fired independent power plants. Its portfolio includes a gas turbine power station in Benin City, Nigeria. It provides electricity to homes, offices, and businesses. Azura Power West Africa Ltd. has a strategic relationship with American Capital Energy & Infrastructure. Azura Power West Africa Ltd. is based in Lagos, Nigeria.

St Nicholas House

13th Floor

Catholic Mission Street

Lagos,  100001


Key Executives for Azura Power West Africa Ltd

Chief Executive Officer
Chief Engineering Advisor
Senior Project Manager
Compensation as of Fiscal Year 2014.

Azura Power West Africa Ltd Key Developments

FMO Signs Agreements to Provide $40 Million of Senior Debt Financing to Azura Power West Africa Limited

FMO signed agreements to provide $40 million of senior debt financing to Azura Power West Africa Limited, a 450 MW gas-fired independent power project in Benin City, Edo State, Nigeria (the Azura-Edo IPP). The project will strengthen the gas-to-power value chain in Nigeria and deliver much-needed electricity to almost 14 million residential consumers in the country. The Azura-Edo IPP consists of the construction, operation and maintenance of a 450 MW gas-fired open-cycle power plant located in Edo State, Nigeria. It also includes the construction of a short 330kV transmission line and an underground gas pipeline spur connecting the power plant to the country’s main gas trunk line. The project has been developed by a consortium of investors led by Amaya Capital Ltd, a principal investment firm focused on energy projects in West Africa. IFC, a member of the World Bank Group, is providing loans of $80 million ($50 million of senior debt and $30 million of subordinated debt) and mobilizing $212.5 million (of which $177.5 million has been jointly raised with FMO) in additional long-term financing from a pool of eight development finance institutions (DFIs). FMO acted as co-Lead Arranger with IFC for the senior DFI tranche of the financing. The balance of debt financing is being provided by international commercial lenders, co-arranged by Standard Chartered Bank (SCB) and Rand Merchant Bank (RMB) and guaranteed by the World Bank and the Multilateral Investment Guarantee Agency (MIGA). First City Monument Bank (FCMB) is administering a local currency facility provided from the Central Bank of Nigeria’s Power and Aviation Infrastructure Facility through the Bank of Industry. Standard Chartered Bank is the Global Lead Arranger for the project.

Azura Power Mulls Acquisitions

Azura Power West Africa Ltd intends to make acquisitions. Azura Power has received funding of $130 million. It will use the funds for green-field development pipeline and future acquisitions.

Azura Power Project Presents at Africa Energy Forum 2013, Jun-18-2013 01:00 PM

Azura Power Project Presents at Africa Energy Forum 2013, Jun-18-2013 01:00 PM. Venue: Barcelona International Convention Centre (CCIB), Barcelona, Spain. Speakers: David Ladipo, Group Managing Director.

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Private Placement
August 5, 2014

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