The Azura-Edo IPP benefits from the following strategic attributes:
- Access to a secure and reliable source of gas. The Azura-Edo IPP is situated close to substantial mature and proven domestic gas reserves and located only 1km from the path of the country’s main gas trunkline, the Escravos Lagos Pipeline System (ELPS).
- Access to evacuation capacity to the electricity grid. The location of the Azura-Edo IPP was specifically chosen to ensure that all the power generated can be safely and easily evacuated onto the national grid, as a result of close proximity to the existing Benin Main Sub-Station and the new Benin North Sub-Station.
- Support from the Edo State Government. The Edo State Government is a minority shareholder in the Azura-Edo IPP through its provision of land and infrastructure. Furthermore, the EDSG has been instrumental in enabling Azura to work closely with the local communities.
- Best-in-class partnerships. Azura has established close relationships with world-class suppliers, contractors, service providers and advisors who have deep experience in their respective industries and in operating in Nigeria and Africa.
- Commercial Power Purchase Agreement with the Nigerian authorities. Azura signed a Power Purchase Agreement (PPA) with the Nigerian Bulk Electricity Trading PLC (NBET), the Federal Government parastatal established for the purpose of acquiring the bulk of the power generated from new IPPs.
- Strong financial support from the World Bank Group. The Azura-Edo IPP participates in the World Bank’s Partial Risk Guarantee program and has Political Risk Insurance placed with MIGA, both of which ensure the bankability of the project to lenders and investors.