Table of Contents
Key Points:
- AXIAN Energy acquires a stake in Gigawatt Global Rwanda Ltd, marking its first investment in Rwanda’s solar power sector.
- The Rwamagana solar plant, with 28,000 panels and 8.5 MW capacity, powers nearly 140,000 Rwandans with clean energy.
- AXIAN Energy partners with Fortis Green Renewables to expand its renewable energy footprint across Africa, starting with Rwanda.
AXIAN Energy, the energy division of the pan-African conglomerate led by Malagasy entrepreneur Hassanein Hiridjee, has made its first strategic investment in Rwanda.
In partnership with Fortis Green Renewables Investment Management, AXIAN Energy acquired a stake in Gigawatt Global Rwanda Ltd. This company operates a major solar power plant in Rwamagana, Rwanda.
Strengthening Rwanda’s renewable energy infrastructure
The Gigawatt Global Rwanda solar power plant is located 60 km east of Kigali, in the Village des Jeunes Agahozo-Shalom. Since its launch in 2014, it has been a key part of Rwanda’s renewable energy efforts. The plant has a capacity of 8.5 MW DC, providing clean, reliable energy to nearly 140,000 people.
With the installation of more than 28,000 solar photovoltaic panels, the plant has greatly improved energy access in the region. This aligns well with Rwanda’s broader goals for sustainable development.
AXIAN Energy’s commitment to Africa’s renewable future
AXIAN Energy’s investment in Rwanda is part of a larger plan to lead Africa’s renewable energy revolution. The company, which operates in 17 countries, is known for its diverse activities in energy, telecommunications, and financial services.
Notably, this venture follows AXIAN Energy’s recent acquisition of solar assets in Madagascar and Burkina Faso from the French company GreenYellow. These moves have further solidified its role as a leader in Africa’s renewable energy sector.
Earlier this year, AXIAN Energy secured financing from the Emerging Africa Infrastructure Fund (EAIF). This funding will support the development of new photovoltaic power plants across the continent. In Madagascar, for instance, AXIAN Energy is leading the construction of the Volobe hydroelectric power station. This project will provide low-carbon electricity to about 2 million people.
A partnership for sustainable growth
Benjamin Memmi, CEO of AXIAN Energy, expressed excitement about the partnership with Fortis Green Renewables. He emphasized their shared commitment to sustainable energy solutions in Rwanda.
“The acquisition of shares in the Rwamagana solar power plant marks our first operation in the Rwandan market,” Memmi stated.
“We are delighted by this collaboration with our local partner Fortis Green Renewables, with whom we share a common ambition: to offer sustainable and accessible energy solutions that improve the daily lives of local populations.”
Driving Rwanda toward a greener future
As Rwanda continues to prioritize renewable energy, AXIAN Energy’s entry into the market supports greater investment in sustainable infrastructure. The collaboration between AXIAN Energy and Fortis Green Renewables not only boosts Rwanda’s energy capabilities but also contributes to the country’s economic growth and environmental sustainability.
With Hassanein Hiridjee’s leadership, AXIAN Energy is set to become a key player in Rwanda’s energy landscape. This investment will help drive the nation toward a greener and more prosperous future.
