Country
Nigeria
Sector
Energy
Intelligence Type
Corporate
Status / Stage
Active
Confidence
Confirmed
Latest Development
Azura Power is the developer and operator of Azura-Edo IPP — Nigeria’s first privately financed, utility-scale power plant (459MW, Benin City). Backed by Actis, IFC and ADB. Nigeria’s template for private sector IPP development — every private power plant that followed owes something to Azura’s model.
Company Profile
Company TypePrivate
HeadquartersLagos, Nigeria
Countries of OperationNigeria
Founded2009
Websiteazura-power.com
Parent CompanyActis (private equity, lead investor)
Key ExecutivesDavid Ladipo (CEO)
Key Developments
Azura-Edo IPP (459MW) operational since 2018. First privately financed utility-scale power plant in Nigeria. IFC-led $237m financing (2015). World Bank partial risk guarantee pioneered for Nigeria.
Key Risks
NBET payment reliability. Gas supply from upstream partners. FX risk on USD-denominated PPA with naira depreciation.
What Happens Next
Potential expansion to combined-cycle for efficiency improvement.
Commercial Opportunity Intelligence
Opportunity SignalNigeria's template IPP — established the model for all subsequent Nigerian private power investment.
Commercial ReadinessCommercially Active
Source & Verification Trail
Last VerifiedAugust 2026
Source(s)IFC project page; Azura Power official; Businessday NG power reviews
Source Date2018–2026