The Azura-Edo IPP was the first limited-recourse project-financed power project in Nigeria. The project is currently a 450MW Open Cycle Gas Turbine (OCGT) power plant, and is expected to be expanded in subsequent phases.
AIIM played a leading role in the development of the project and funded 29% of the required financial close equity. Azura sells power to NBET under a 20 year long-term Power Purchase Agreement (PPA).
AIIF2 disposed of its interest in 2018.