Electricity: Azura acquires the Tobène power plant in Senegal
Nigerian energy group Azura Power has taken over the Tobène power plant in Senegal that was previously owned 90% by Melec Powergen, part of the Lebanese group Matelec, which specialises in the generation, transmission and distribution of electricity, and 10% by International Finance Corporation (IFC).
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▪ Electricity: Azura acquires the Tobène power plant in Senegal
▪ Nigerian energy group Azura Power has taken over the Tobène power plant in Senegal that was previously owned 90% by Melec Powergen, part of the Lebanese group Matelec, which specialises in the generation, transmission and distribution of electricity, and 10% by International Finance Corporation (IFC).
▪ https://www.africabusinessplus.com/en/800463/electricity-azura-acquires-the-tobene-power-plant-in-senegal/
The acquisition, for an undisclosed amount, was completed a month ago and announced officially on 11 November as confirmed by Edu Okeke, CEO of Azura Power since January 2019 in comments to Jeune Afrique Business+. Azura Power is the leading private energy generator established after the privatisation of the sector in Nigeria in 2013. Linklaters advised Azura Power on the deal and Clifford Chance represented Melec Powergen.
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