AXIAN Energy expands solar power network in Senegal with $89-million deal

Timilehin Adejumobi -
Key Points
  • AXIAN Energy secures $89 million for two solar plants in Senegal’s Kolda region to boost energy access. 
  • The Kolda solar farm aims to power 25,000 households and stabilize Senegal's grid by 2026.
  • AXIAN Group’s renewable projects across Africa support energy inclusion and local economic development.  

AXIAN Energy, the energy division of the Pan-African conglomerate, AXIAN Group, owned by Malagasy businessman Hassanein Hiridjee, has secured €84 million ($89 million) in financing for two solar power plants in Senegal's Kolda region, bolstering energy access in the underserved Casamance region.

The investment, supported by a consortium including Emerging Africa & Asia Infrastructure Fund (EAAIF), Dutch development bank FMO, and Germany's DEG, is part of a €105 million ($111.5 million) effort aimed at enhancing energy reliability and fostering local economic development. The financing will support the construction of the region's largest battery storage system alongside a photovoltaic array.

Kolda Solar Farm: A step toward Senegal’s renewable energy goals

Set for completion in 2026, the Kolda solar farm will feature a 60 MW photovoltaic array and a 72 MWh battery energy storage system (BESS).

Once operational, it is expected to provide electricity to 25,000 households, generating enough power to support approximately 235,000 people annually. This initiative is integral to Senegal's 2030 renewable energy goal of reaching 40% clean energy in the country’s energy mix.

Benjamin Memmi, CEO of AXIAN Energy, expressed the company’s commitment to energy inclusion across Africa, noting that the project would help meet the United Nations’ Sustainable Development Goals while driving West Africa’s sustainability efforts.

The solar project in Casamance will not only provide sustainable power but also promote local economic growth and reduce reliance on fossil fuels. AXIAN Energy plans to contribute to grid stability and job creation in the region, as emphasized by partners like Tidiane Doucoure of EAAIF, and representatives from FMO and DEG.

Hassanein Hiridjee's AXIAN Group: Lighting up Africa's future

Headquartered in Madagascar, AXIAN Group operates in real estate, telecommunications, finance, and energy across six countries. Under Hassanein Hiridjee’s leadership, the conglomerate has become Madagascar’s top energy producer, committed to socio-economic progress and renewable energy.

Through Axian Energy, the conglomerate provides innovative energy solutions in Africa. Its portfolio includes hydro and solar power projects, the company currently operates 150 MW of renewable energy projects across the continent, with over 1 GW in the pipeline.

Beyond Senegal, AXIAN has expanded its footprint with strategic investments, including a significant stake in WiASSUR, an insurance tech startup, and a move into Rwanda’s renewable sector via a partnership with Gigawatt Global Rwanda.