Benin - Nigeria’s power sector reform process received another boost as American Capital Energy & Infrastructure (ACEI) has pledged about N20.8 billion ($130m) to support the Azura Power Holdings Limited power project.
The fund will be used to fund the first and second phases of the 450 megawatt Azura-Edo power project in Edo State, reports ThisDay.
Paul Hanrahan, Chief Executive Officer and co-founder of ACEI, said his company invested in the project because of the confidence in Nigeria’s power sector reform programme and the growth opportunities in the Nigerian and West African markets
David Ladipo, Azura’s managing director, stated that ACEI’s investment would accelerate Azura’s drive to create a multi-asset power generation company that will provide electricity to the people.
Read more at Thisday