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Nigeria: A gas-fired power plant to meet the electricity needs of several million people
Project
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Signature date
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Location
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Nigeria
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Financing tool
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Financing amount (Euro)
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28044871.79
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Financing details
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Loan of USD 35m
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Customer
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Azura Power West Africa Limited
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Type of customer
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Company
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Project number
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PNG1036
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Environmental and social ranking
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A
The gas-fired power plant located in Edo State in Nigeria will supply electricity to several million people. The project required the implementation of a regulatory framework promoting private investment in the sector.
Client presentation
The Azura project is being developed jointly by Amaya Capital Ltd, a company with recognized expertise in the energy and gas sector in Nigeria, and Aldwych Ltd, an energy investment company mainly active in Africa.
Project description
PROPARCO’s loan will contribute to financing the construction and operation of a 459 MW simple cycle gas-fired power plant, located near Benin City in Edo State in Nigeria.
Project impact
This project will supply electricity to 22 million people by significantly increasingly the available capacity in the country (by 13.5% in GWh). In addition, the structuring of the Azura project will contribute to the establishment of a regulatory framework conducive to private investment in this sector.