Azura-Edo
Azura-Edo
- Company typePrivate
- Founded2014
- HeadquartersAbuja, Nigeria
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Azura-Edo does
Azura-Edo is a Nigerian independent power producer operating a 461 MW open cycle gas turbine (OCGT) power station on a 100-hectare site in Ihovbor Village, on the north-eastern outskirts of Benin City, Edo State. The plant is fueled by natural gas supplied via the Escravos Lagos Pipeline System (ELPS), which lies approximately 1 km from the site, and discharges power through the adjacent Benin Main and Benin North substations. Azura-Edo is currently one of Nigeria's top-three power contributors, supplying approximately 10% of electricity delivered to the national grid and offering balancing power and black-start capabilities to stabilise the grid. The asset is the first phase of a stated 1,500 MW combined cycle expansion plan, and Phase II is in development to convert the plant to combined cycle gas turbine (CCGT) configuration, adding 275 MW for a total capacity of 736 MW.
The business model is structured as a single-asset wholesale generator selling electricity exclusively under a long-term Power Purchase Agreement (PPA) with the Nigerian Bulk Electricity Trading PLC (NBET), a Federal Government parastatal that on-sells to Nigeria's eleven electricity distribution companies (DISCOs). Revenue is contracted on a take-or-pay basis for committed capacity, providing contractual cash-flow visibility, and the counterparty and political risk profile is materially underpinned by a World Bank Partial Risk Guarantee and Multilateral Investment Guarantee Agency (MIGA) political risk insurance. The legal entity is Azura Power West Africa Limited; the parent is Azura Power Holdings Limited, whose principal shareholders are Actis (majority), Amaya Capital (the original founder), and Africa50, with Anergi Group as a direct minority shareholder and the Edo State Government holding a small equity stake tied to its land and infrastructure contribution.
The $890 million project financing closed in late 2014 across 16 lending institutions and four equity providers, and the plant was commissioned in May 2018, eight months ahead of schedule. Construction was delivered by a consortium of Siemens AG, Siemens Nigeria, and Julius Berger Nigeria, operations and maintenance are performed by PIC (Marubeni), and gas is supplied under a long-term Gas Sales & Purchase Agreement with Seplat Petroleum. Beyond generation, Azura-Edo operates a proprietary performance dashboard and mobile app publishing hourly plant output and runs a community-impact program ("Power to Change") covering eye-care, education electrification, conservation, and skills training under the sub-brand PTC.
Azura-Edo firmographics
Firmographics- Name
- Azura-Edo
- Legal name
- Azura Power West Africa Limited
- Website
- https://azuraedo.com
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Azura-Edo
- Ownership category
- akta.pro rank
Azura-Edo industry classification
Industry- Product category
- Independent Power Generation
- NAICS
- Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)
- SIC
- Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)
- akta.pro secondary industries
- Open-Cycle Gas Turbine (OCGT) / Peaker Generation (EUACABAB), Gas-Fired Steam Turbine (Boiler-Fired) Generation (EUACABAF), Thermal Power Plant O&M (Coal, Gas, Oil) (EUAEAGAA)
Keywords
Where Azura-Edo is headquartered
LocationHeadquarters
- HQ city
- Abuja
- HQ country
- Nigeria
- HQ region
- Africa
Offices2 records
Markets served
Azura-Edo business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Supply Chain, Personnel, Technology or R&D
Revenue model
- Electricity Sales via PPA: Long-term Power Purchase Agreement with Nigerian Bulk Electricity Trading PLC (NBET) for sale of generated electricity. NBET on-sells to the country's eleven distribution companies (DISCOs). Revenue is structured under a take-or-pay contractual framework ensuring payment for committed capacity.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Bulk electricity supply under long-term Power Purchase Agreement |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Azura-Edo product offering
Product offeringCore offering
Azura-Edo operates a 461MW open cycle gas turbine (OCGT) power plant in Edo State, Nigeria, generating electricity for sale to the Nigerian Bulk Electricity Trading PLC (NBET) under a long-term take-or-pay Power Purchase Agreement. The plant supplies approximately 10% of Nigeria's national grid electricity and provides grid balancing and black start capabilities to stabilize the national grid. Natural gas is supplied via the Escravos Lagos Pipeline System (ELPS).
Product overview
Azura-Edo operates as a single asset independent power producer (IPP) consisting of a 461MW open cycle gas turbine power plant (Phase I) in Edo State, Nigeria. The company is developing Phase II to convert the plant to combined cycle configuration, adding 275MW to reach 736MW total capacity. Beyond power generation, Azura-Edo offers a community investment program (Power to Change) focused on education, health, and sustainable livelihoods. The company also provides a proprietary performance monitoring app and dashboard for real-time plant data access.
Differentiator
Problem solved
Functional benefit
Brands
- Power to Change (PTC): Azura-Edo's giving back arm focused on sustainable livelihood, health, and education programs supporting host communities and contributing to UN Sustainable Development Goals.
Products and services
- Azura-Edo Independent Power Plant (IPP) - Phase I A 461MW open cycle gas turbine power station located on a 100-hectare site on the north-eastern outskirts of Benin City, Edo State, Nigeria. It is the first phase of a planned 1,500MW Independent Power Plant facility. The plant sells bulk electricity to NBET under a long-term PPA, supplies approximately 10% of Nigeria's national grid electricity, and provides grid balancing power with black start capability to stabilise the national grid. Fuel is supplied via the Escravos Lagos Pipeline System (ELPS).
Quantifiable outcome
- Contributes approximately 10% of Nigeria's total electricity supply to the national grid
- +2 more outcomes
Companies that use Azura-Edo
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles1 record
Azura-Edo technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Azura-Edo partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core and minor.
- Seplat Petroleum Development Company PLCcoreLong-term Gas Sales & Purchase Agreement signed with Seplat for supply of natural gas to the power plant. Seplat is an energy company active in Nigeria's emerging economy.
- Nigerian Bulk Electricity Trading PLC (NBET)corePower Purchase Agreement (PPA) signed with NBET, the Federal Government parastatal established for acquiring bulk power from IPPs for on-sale to distribution companies. NBET is the primary customer and revenue counterparty.
- Siemens AG / Siemens Nigeria Ltd / Julius Berger Nigeria PLCcoreConstruction consortium that built the Azura-Edo power plant. Siemens AG, Siemens Nigeria, and Julius Berger brought international construction expertise to the project.
- PIC (Marubeni)coreOperations & Maintenance Contractor engaged by Azura to perform plant operations and maintenance. Reports directly to Azura's management team who supervise and manage plant O&M.
- Tulsi Chanrai Foundation (TCF)minorAzura-Edo supports TCF in reducing avoidable blindness in Nigeria, particularly cataracts among the rural poor. Has sponsored 3,500 free eye surgeries since 2019. President Buhari commissioned the TCF Eye Hospital in Abuja as part of Azura's Believe in Better program.
- North East Children's Trust (NECT)minorAzura-Edo supports NECT's Learning Centre and Maiduguri International School with full solar power electrification, providing education access to children displaced by insurgency in Nigeria's North East.
- ANI (African Nature)minorSupport for Gashaka National Park conservation, ranger training, livelihood restoration programs, and community capacity building around shea nut harvesting. Helps preserve watershed integrity fundamental to livelihoods of millions.
- Edo JobsminorCollaboration with Edo State government jobs initiative to train over 170 community indigenes in various skills with some receiving start-up kits. First phase of micro-credit loans for host community entrepreneurs completed.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Azura-Edo competitors and assessment
Company assessmentDirect peers
- Olorunsogo Power Plc: Nigerian gas-fired IPP with multiple phases including OCGT and CCGT configurations. Highly comparable to Azura-Edo in technology stack, fuel source, and NBET offtaker relationship.
- Karpowership: Operates floating gas-fired powerships supplying power under PPAs in several West African markets including Nigeria, Ghana, and Senegal. Closest comparable for fast-deploy, gas-fired, grid-balancing generation serving African utilities under long-term contracts.
- Geregu Power Plc: Nigerian gas-fired thermal IPP (434 MW Phase I, with expansion phases) listed on the Nigerian Exchange. Operates a comparable NBET PPA model and serves as a direct listed proxy for IPP economics in Nigeria.
- Cenpower Generation Company: Ghanaian combined-cycle gas-fired IPP (~350 MW) operating under a take-or-pay PPA with Electricity Company of Ghana. Closest Ghana-market analog to Azura-Edo's contracted gas-fired IPP business model.
- Egbin Power Plc: Nigeria's largest gas-fired thermal IPP (1,320 MW) located in Lagos State, supplying power to NBET under a similar long-term PPA structure. Most directly comparable Nigerian gas-fired IPP to Azura-Edo by offtaker, fuel profile, and grid-stability role.
- Transcorp Power Plc (Ughelli): Transcorp-owned gas-fired thermal power plant in Delta State, Nigeria, with ~972 MW capacity. Competes in the same NBET offtake framework and shares the Nigerian gas-fired thermal IPP business model with Azura-Edo.
- Azito Energie: Combined-cycle gas-fired IPP in Côte d'Ivoire (~430 MW) supplying the West African Power Pool. Comparable to Azura-Edo as a regionally significant gas-fired CCGT IPP under a long-term utility PPA in West Africa.
Others
- Wärtsilä Energy: Supplier of gas engine and energy storage technology widely deployed across African IPPs. Relevant as an enabling technology provider to the gas-fired distributed and utility-scale IPP segment in which Azura-Edo operates.
Broad incumbents
- ContourGlobal: International IPP operator with multiple African thermal generation assets, including Togo and other West African power plants. Relevant broad incumbent peer in the African gas-fired IPP operating space.
Regional players
- Mainstream Energy Solutions: Operator of Nigeria's large Kainji and Jebba hydroelectric plants under concession. Comparable as a major Nigerian IPP selling bulk power into the national grid, though technology differs (hydro vs. gas).
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Azura-Edo social profiles
Digital presenceAzura-Edo financial estimates
Financial estimateRevenue estimate
Valuation estimate
Azura-Edo leadership team
Management profileNumber of profiles
Profiles9 records
Azura-Edo funding detail
Funding detailFunding overview
Funding rounds3 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Azura-Edo M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Azura-Edo
What does Azura-Edo do?
Azura-Edo operates a 461MW open cycle gas turbine (OCGT) power plant in Edo State, Nigeria, generating electricity for sale to the Nigerian Bulk Electricity Trading PLC (NBET) under a long-term take-or-pay Power Purchase Agreement. The plant supplies approximately 10% of Nigeria's national grid electricity and provides grid balancing and black start capabilities to stabilize the national grid. Natural gas is supplied via the Escravos Lagos Pipeline System (ELPS).
Is Azura-Edo a public or private company?
Azura-Edo is a private company. It is classified as private equity controlled and is currently operating.
When was Azura-Edo founded?
Azura-Edo was founded in 2014. It employs 11 to 50 people.
Where is Azura-Edo based?
Azura-Edo is headquartered in Abuja, Nigeria, in the Africa region.
How does Azura-Edo make money?
One revenue line is on record: electricity Sales via PPA.
Who are Azura-Edo's main competitors?
Direct peers on record are Olorunsogo Power Plc, Karpowership, Geregu Power Plc, Cenpower Generation Company, Egbin Power Plc, Transcorp Power Plc (Ughelli) and Azito Energie. Wärtsilä Energy is listed as an others. ContourGlobal is listed as a broad incumbent. Mainstream Energy Solutions is listed as a regional player.
Does Azura-Edo have an API?
No public API is recorded for Azura-Edo.
What industry is Azura-Edo in?
Azura-Edo's product category is Independent Power Generation. Its primary akta.pro industry code is EUACABAI, Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield), with a secondary code of EUACABAB, Open-Cycle Gas Turbine (OCGT) / Peaker Generation. Its NAICS code is 221112 and its SIC code is 4991.