Azura Power Acquires Majority Stake In South African Electricity Trader Enpower

Azura Power Limited, a pan-African power company, has acquired a significant majority stake in Enpower Trading (Pty) Ltd, marking its entry into South Africa’s electricity market and strengthening its regional expansion strategy.

Enpower Trading is a licensed electricity trading company based in Cape Town. It purchases electricity from independent power generators and supplies it to commercial and industrial customers through South Africa’s national electricity grid. The company holds the first new private electricity trading licence issued by the National Energy Regulator of South Africa (NERSA) in more than a decade.

Enpower also holds electricity import and export licences and has conditional market-participant status in the Southern African Power Pool (SAPP). These capabilities provide Azura with an established platform to participate in South Africa’s changing electricity market and expand its activities in the country.

Following the transaction, Enpower will operate as Azura’s core electricity trading platform in South Africa. The agreement also allows Enpower’s founders and management team to retain a meaningful ownership position. This structure is intended to maintain business continuity while providing the company with additional capital, expertise and regional capabilities from Azura.

Dave Peacock, CEO of Azura Power, said the company had been seeking an opportunity to enter the South African market for some time. He highlighted Enpower’s market knowledge and experienced team, adding that the investment is expected to be the first of several investments Azura plans to make in South Africa’s evolving power sector.

James Beatty, Co-Founder and CEO of Enpower Trading, said the partnership with a strong majority shareholder would improve the company’s access to capital and increase its ability to contract with generators and customers. The transaction is also expected to strengthen Enpower’s counterparty position and guarantee capacity as the business expands.

South Africa’s electricity sector is undergoing structural changes, with growing private-sector participation and increased opportunities for independent electricity traders. Trading platforms such as Enpower are providing commercial and industrial consumers with greater options for sourcing electricity.

Azura’s investment is expected to strengthen Enpower’s balance sheet and support the expansion of its trading activities in South Africa and the wider region. Azura also plans to assess additional investment opportunities across the country’s broader energy sector.

The acquisition builds on Azura’s existing generation portfolio in Africa. The company currently operates 752 MW across three assets in Nigeria, Senegal and Mozambique. These include the 461 MW Azura-Edo gas turbine project, the 116 MW Tobene Power project and the 175 MW Central Térmica de Ressano Garcia (CTRG) project in Mozambique.

Through the Enpower partnership, Azura aims to expand its presence in one of Africa’s key electricity markets while continuing its focus on reliable and sustainable energy infrastructure.