New AIX: Gas panellists – Azura Power’s Alan Muir and Actis’ Adrian Mucalov

Muir.jpgAlan Muir is Group Managing Director of Azura Power, which is the exclusive platform company for thermal projects in Africa, for Actis Energy Fund 4 and Amaya Capital. The anchor investment for the company is the 450MW Azura Edo gas fired power plant in Nigeria. Alan has over 30 years’ experience in power industry and power corporate finance (over 20 of which have been in Africa). Prior to joining Azura Power, Alan spent 20 years Fieldstone, the specialist infrastructure advisory firm, where he was one of the controlling shareholders and chaired the African Executive committee.

Alan is a panellist at the Africa Investment Exchange: Gas meeting at RSA House, London on 2-3 May 2019.


Adrian Mucalov is Partner: Infrastructure at Actis and is responsible for originating and managing investments in the infrastructure sector. He transitioned from the energy sector where 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 & Monitor Corporate Finance in Toronto and Seoul from 2001 to 2004 and as Director of International Expansion at Endeavor Global from 2008 to 2009. He also spent time with the European Bank for Reconstruction and Development (2007), UNDP in Indonesia (2006), CARE International Zambia (2005) and Goldman Sachs investment banking (2000).

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

Adrian is a chair at the Africa Investment Exchange: Gas meeting at RSA House, London on 2-3 May 2019.