Abu Dhabi founded energy infrastructure investor ePointZero has agreed to acquire a 90 per cent stake in Azura Power Holding Limited, expanding its exposure to power generation assets across Africa.
ePointZero, a subsidiary of Two Point Zero Group, said the transaction remains subject to the completion of required procedures and approvals from relevant regulatory authorities.
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Azura Power currently operates 752 megawatts of capacity across three assets: Azura Edo in Nigeria with 461MW, Tobene in Senegal with 116MW and CTRG in Mozambique with 175MW.
The projects are located in three of Africa’s major natural gas markets and are backed by long-term power purchase agreements.
More than 1.5GW development pipeline
Azura Power also has an active development pipeline of more than 1.5GW, spanning gas, renewable energy and battery energy storage projects across Africa.
The acquisition will add to ePointZero’s portfolio of specialised energy infrastructure, which includes investments in pipelines, power generation and energy storage assets.
Founded in Abu Dhabi, ePointZero said its strategy is focused on infrastructure supporting electrification, rising energy demand and future digital and industrial growth.
Amaya Capital retains 10%
Under the transaction, ePointZero has partnered with Amaya Capital, which founded Azura Power in 2010, to establish an acquisition vehicle.
Through the vehicle, ePointZero will acquire the ownership stakes held by Actis and Africa50, while Amaya Capital will retain a 10 per cent minority stake in Azura.
Completion remains subject to regulatory approvals and other customary closing conditions.
Africa electricity demand expected to nearly double
The acquisition comes as electricity demand across Africa is expected to nearly double by 2040, driven by population growth, urbanisation and industrial development.
At the same time, electricity access across Sub Saharan Africa remains at roughly 55 per cent, according to World Bank data cited by ePointZero, highlighting the scale of investment required in power infrastructure.
Sheikh Zayed bin Hamdan bin Zayed Al Nahyan, Chairman of 2PointZero, said reliable electricity is fundamental to economic growth and industrial development.
“This investment through ePointZero reflects our commitment to deploying long-term capital into critical infrastructure that can support that growth in key markets across Africa,” he said.
Mohamed Hesham, CEO of ePointZero, said the acquisition deepens the company’s capabilities in African energy and infrastructure, alongside its strategic investment in Elsewedy Electric.
Follows $2.25 billion US energy deal
The Azura acquisition adds to ePointZero’s international expansion in energy infrastructure.
Earlier this year, ePointZero agreed to acquire US-based Traverse Midstream Partners for $2.25 billion, giving the group exposure to North American energy infrastructure, including interests in the Rover Pipeline and Ohio River System.
Parent company 2PointZero reported Dh2.3 billion in net profit and Dh9.9 billion in revenue in the first quarter of 2026, its first full quarter following the group’s mega-merger. Total assets stood at Dh135 billion at the end of March.
Source: Khaleej Times