October 25, 2016 1:03 PM ET

Independent Power and Renewable Electricity Producers

Company Overview of Azura Power West Africa Limited

Company Overview

Azura Power West Africa Limited, a power company, operates as a developer, financier, acquirer, and operator of independent power plants (IPP) and power related assets in West Africa. It operates a gas turbine power station in Nigeria. Azura Power West Africa Limited is based in Lagos, Nigeria.

69 MacPherson Avenue


Lagos,  100001



234 1 460 5575 6


234 1 460 5577

Key Executives for Azura Power West Africa Limited

Chief Executive Officer, Group Managing Director and Director
Head of Finance
Chief Operating Officer
Chief Engineering Advisor
Head of Government & Community Affairs and Senior Project Manager
Compensation as of Fiscal Year 2016.

Azura Power West Africa Limited Key Developments

Azura Power West Africa Ltd Presents at 18th Annual Africa Energy Forum, Jun-21-2016 through Jun-24-2016

Azura Power West Africa Ltd Presents at 18th Annual Africa Energy Forum, Jun-21-2016 through Jun-24-2016. Venue: Intercontinental O2, London, United Kingdom. Presentation Date & Speakers: Jun-23-2016, David Ladipo, Chief Executive Officer, Group Managing Director and Director. Jun-24-2016, David Ladipo, Chief Executive Officer, Group Managing Director and Director.

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.

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Recent Private Companies Transactions

No transactions available in the past 12 months.

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