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Nigeria: Actis and Amaya launch 3GW venture

Private equity firms Actis and Amaya Capital are launching a new investment company with equity capital of $500m divided between them to develop up to 3GW of baseload gas and hydroelectric power in Africa. The deal confirms that Actis is re-emerging as a more proactive developer following the transfer last year of its equity in generation company Globeleq to development finance institution investors Norfund and CDC Group. In the first stage of the transaction, Amaya Actis has closed the purchase of American Capital Energy and Infrastructure (ACEI)’s 43.5% holding in Azura Power Holdings Ltd (APH).

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