Our people are the best in class with significant experience and expertise to deliver our strategy. We are passionate about what we are doing in Africa and have the skills to match.

Senior Executives

> Sundeep Bahanda - Co-Founder

Sundeep Bahanda co-founded Amaya Capital in 2008 and Azura Power in 2010 after spending almost two decades of investment analysis and consulting experience.

He was a Managing Director at Deutsche Bank in the Equities Division where he was the Head of the No.1 ranked European Retail Research Team and the No. 1 ranked European Retail Equity Analyst. Prior to Deutsche Bank, Sundeep was a Strategy Consultant with Andersen Consulting and a Business Analyst with Zeneca PLC. Sundeep is a member of the Institute of Chartered Accounts of Scotland having qualified as a CA with Price Waterhouse, after graduating at the University of Strathclyde, Glasgow. He is also a member of the the Young Presidents Organization. Sundeep is Chairman of Azura Power West Africa Ltd.

> David Ladipo - Co-Founder

Dr David Ladipo is co-founder of Azura Power Holdings Ltd and has more than 25 years of experience in academia, strategy consulting, public policy and project finance. He is the founder of Lintstock Ltd, a London-based corporate advisory firm whose clients include more than 80 companies in the FTSE 350 and also a long-standing adviser at Nestor Advisors Ltd, a corporate governance consultancy.

David holds a BA in Philosophy, Politics and Economics from Oxford University, an MPhil in International Relations from Cambridge University, and a PhD in Social and Political Sciences from Cambridge University. He was born in Lagos and grew up in Nigeria, Kenya, and the UK.

> Alan Muir - CEO

Alan has over 30 years’ experience in power industry and power corporate finance (over 15 of which have been in Africa), particularly mergers and acquisitions, project finance, and privatisation in the power industry. Alan’s professional career also covers power plant design and construction, project development, and electricity distribution.

Prior to joining Azura Power, Alan spent 20 years at Fieldstone, a specialist financial and commercial advisor in infrastructure, where he was one of the controlling shareholders and chaired the African Executive committee. Alan is a chartered mechanical engineer and also holds a masters in finance.

> Crispin Holliday - COO

Crispin has over 25 years power and related industry experience and was a key member of the founding team at Aldwych International, being responsible for power project business development activities across Africa. He led the Aldwych participation as co-developer and shareholder in the 460MW Azura-Edo project and also participated in Kelvin, Rabai and Lake Turkana Wind Power Projects.

Crispin started his career with BASF in the UK and Germany and following roles in plant maintenance and projects, was responsible for planning energy supply solutions for large sites in Europe and Asia. Crispin then joined AES in a business development role in London, before spending two years in Cameroon as Director of planning and development for the integrated national utility SONEL, culminating in the successful development of the 85MW Limbe HFO project. Crispin is a Chartered Mechanical Engineer, has a degree in Mechanical Engineering from Nottingham University and gained an MBA from INSEAD.

> Dave Peacock - CCO

Dave is Azura's Chief Commercial Officer and brings a wealth of corporate finance and business development experience. Prior to joining Azura Power, Dave worked as a financial advisor at Fieldstone, where he advised the sponsors on the $900m project financing of the 459MW Azura-Edo IPP in Nigeria; Actis on its IPO of Umeme, Uganda’s national electricity distribution company and the 4Power Consortium on the acquisition of Port Harcourt Electricity Distribution Plc, as part of the FGN’s privatisation programme. He also advised a number of other IPP developers in Nigeria, Ghana and Sierra Leone.

Prior to joining Fieldstone, Dave spent 5 years working in corporate finance at Lazard & Co., Ltd. Dave is a CFA charterholder and received a Bachelor of Arts in Honours Business Administration degree from the Richard Ivey Business School at the University of the Western Ontario, in London, Canada.

Directors

> Seynabou Ba - ESG

Seynabou spent 13 years at the International Finance Corporation (IFC) where she was ultimately head of ESG for sub-Saharan Africa. There, she led the organization’s efforts to promote sustainable private sector investments while overseeing a portfolio of over 380 companies. Prior to that, she spent over 8 years in the environmental insurance industry providing risk management services through balance sheet protection.

She is fluent in French, Wolof, and English, and holds a Master’s in Environment Sciences and Environmental Policy from Johns Hopkins University in Washington, DC and an Executive Master’s in Business Administration from London Business School..

Nonye is Head of Finance where she is responsible for overall financial operations and budgets, accounting and financial reporting, treasury activities, Legal, IT and HR. Her career has been focused on business start-ups from project conception through development to implementation. More recently she has worked in Nigeria as Finance Director, Geometric Power Limited where she was responsible for financial operations. Over the span of her 20-year professional career she has worked at various times as: a business consultant for US-based public accounting firm; a senior finance manager in telecommunications; and an environmental engineer.

Nonye holds an MBA in Finance and Operations Management from The Wharton School of the University of Pennsylvania and a BS in Chemical Engineering from the University of Delaware.

> Edu Okeke - Azura-Edo MD

Edu is the Managing Director of the Group's flagship asset, the 461MW Azura-Edo IPP. A seasoned director/manager with 25 years experience in heavy, capital-intensive, industries, Edu started his career with Guinness Breweries in 1995 in its Engineering division. He then joined Schlumberger in 1996 as a field engineer in its Drilling & Measurements division. During this time, he had assignments in Nigeria, USA, UK, Vietnam and Pakistan. Edu then became the Power generation Products Sales Director for Sub-Saharan Africa for GE Power & Water, after previously holding the position of West Africa Region Manager for GE’s Energy Business. Prior to GE, Edu also worked with Lafarge Cement where he served as the Strategy Manager for the South African operations as well as Commercial Director for the Nigeria WAPCO unit.

Edu holds an MBA in Management from the Imperial College, University of London and a B.Eng. in Electronic Engineering from the University of Nigeria, Nsukka.

> Carlos Pinto - Business Development

Carlos has over 20 years’ experience in the emerging markets power sector with the last 10 years spent in Africa. Prior to joining Azura, Carlos spent the last 16 years as Co-founder and Managing Partner of Enventure Partners, an independent power development firm. During his tenure, he led the development of several 1st of kind Project Financed IPPs. Most recently, he concluded the development of the 1st Project Finance IPP in Mozambique. Carlos’ experience spans thermal, wind and hydro power generation throughout Africa, US, Latin American, Caribbean, and European markets. He started his career in the power sector at the Scudder Latin American Power Fund, a private equity fund investing in IPP projects in emerging markets.

Carlos received his Bachelor of Science in Economics and Finance from Rutgers University in 1994 and his MBA with distinction from George Washington University in 1997. He is fluent in English, Portuguese and Spanish.

Senior Management

> Kavodel Oredugba - Business Development

Kavodel is a Business Development executive with Azura Power and has extensive experience of analysis and execution of energy and infrastructure transactions across Africa through his previous experience at Filedstone as a financial advisor. He has also worked in investment banking at Morgan Stanley with a focus on Sub Saharan Africa across various sectors including Financial Institutions, Oil & Gas and Natural Resources.

Kavodel holds an MSc. in Financial Analysis and Fund Management from the University of Exeter, UK as well as a BA (Hons.) in International Business, Finance and Economics from the University of Manchester, UK.

Shareholder Committee

> Sundeep Bahanda

Sundeep Bahanda co-founded Azura Power in 2009 after spending almost two decades of investment analysis and consulting experience.

Sundeep was a Managing Director at Deutsche Bank in the Equities Division where he was the Head of the No.1 ranked European Retail Research Team and the No. 1 ranked European Retail Equity Analyst (Source: Institutional Investor and Extel). Later, Sundeep became responsible for the bank's European Sales coverage for the Retail/Consumer sector.

Prior to Deutsche Bank, Sundeep was a Strategy Consultant with Andersen Consulting and a Business Analyst with Zeneca PLC. Sundeep is a member of the Institute of Chartered Accounts of Scotland having qualified as a CA with Price Waterhouse, after graduating at the University of Strathclyde, Glasgow. He is also a member of the Mayfair Chapter of the Young Presidents Organization. Sundeep is Chairman of Azura Power West Africa Ltd.

> Phillip Ihenacho

Phillip Ihenacho has more than 30 years of corporate finance and consulting experience and is a co-founder of Azura Power. Phillip was previously CEO of UBA Capital Europe Ltd (formerly Afrinvest UK) and was a co-founder of the premier West African investment bank, Afrinvest West Africa.

During the course of the last several years, he has been involved in capital raising and acquisition advisory mandates in Ghana, Nigeria, and Cote d’Ivoire. Prior to Afrinvest, Phillip worked for McKinsey & Co. in New York, London, Stockholm and Johannesburg.

Phillip has a BA in History from Yale University and a JD in law from Harvard Law School. He was born in Lagos and grew up in Jos, Nigeria.

> Mikael Karlsson (Chair)

Mikael has worked in the world of growth markets energy and infrastructure since 1990. He joined Globeleq, the Actis portfolio company in 2002 where he was CEO from 2009 to 2015. He began his career at ABB Energy Ventures, the developer and investor of 36 power projects worldwide with a total value of US$15bn, where he held senior management positions as head of global development and investments, head of Asia, head of Europe, Middle East and Africa and chairman of the investment committee. He has been involved in power projects in China, India, Bangladesh, Malaysia, Morocco, Côte d’Ivoire, Tanzania, Kenya, South Africa, Cameroon, Colombia, Brazil, Mexico, Chile, Costa Rica, Honduras and Nicaragua.

Mikael holds a master of science in industrial engineering and management from Linkoping Institute of Technology in Sweden and an MBA from University of Massachusetts, Amherst in the US.

> David Ladipo

Dr David Ladipo is co-founder of Azura Power and has more than 25 years of experience in academia, strategy consulting, public policy and project finance. He is the founder of Lintstock Ltd, a London-based corporate advisory firm whose clients include more than 80 companies in the FTSE 350 and also a long-standing adviser at Nestor Advisors Ltd, a corporate governance consultancy.

David holds a BA in Philosophy, Politics and Economics from Oxford University, an MPhil in International Relations from Cambridge University, and a PhD in Social and Political Sciences from Cambridge University. He was born in Lagos and grew up in Nigeria, Kenya, and the UK.

> Barry Lynch

Barry joined Actis in 2016 as Head of Energy Operations. Prior to Actis he spent 8 years with Mainstream Renewable Power as Managing Director of Procurement, Construction and Operations with responsibility for delivering large scale wind and solar projects through the equity structuring, project financing and construction phases into operation in Europe, North America, Latin America and Africa. He was an executive director and board member at Mainstream and sat on the boards of two Actis Energy portfolio companies (Lekela Power and Aela Energia) in which Mainstream is a minority partner. Barry was also involved in the development Actis Energy investee company Globeleq Africa, within the renewable energy side of the business focused on South Africa.

Prior to joining Mainstream Barry spent 8 years with ESB International and was involved in the construction and operation of large scale thermal power plants. He undertook a number of roles including Group Safety Manager and Operations Manager for Asia with responsibility for 4 power plants in Pakistan and Malaysia. Barry holds a Degree in Mechanical Engineering from Dublin Institute of Technology.

> Adrian Mucalov

Adrian joined Actis in 2009 and is responsible for originating and managing investments in the energy sector, with a focus on Africa. He has been heavily involved in all of Actis’ distribution investments, including Umeme in Uganda, Eneo in Cameroon, and Energuate in Guatemala. Adrian supported the successful IPO and subsequent capital markets partial exit of Umeme. In addition, Adrian worked on the acquisition of Fund 2’s Kribi and Dibamba assets, which were sold as part of the Globeleq Africa portfolio. Prior to Actis, Adrian worked as a management consultant with Monitor Group and also spent time with the European Bank for Reconstruction and Development, UNDP in Indonesia, CARE International Zambia and Goldman Sachs investment banking.

Adrian holds an MBA from Harvard Business School, an MPA/ID degree from Harvard Kennedy School and a B.Com (Honours) from Queen’s University (Canada), and is a CFA charterholder.

> Alan Muir

Alan has over 30 years’ experience in power industry and power corporate finance (over 20 of which have been in Africa), particularly mergers and acquisitions, project finance, and privatisation in the power industry. Alan’s professional career also covers power plant design and construction, project development, and electricity distribution.

Prior to joining Azura Power, Alan spent 20 years at Fieldstone, a specialist financial and commercial advisor in infrastructure, where he was one of the controlling shareholders and chaired the African Executive committee. Alan is a chartered mechanical engineer and also holds a masters in finance.