Home News Finance Axian Energy Secures Funding to Build Solar Plants With 60 MW Capacity in Kolda, Senegal
FinanceNews

Axian Energy Secures Funding to Build Solar Plants With 60 MW Capacity in Kolda, Senegal

291

Two new solar power plants with a combined 60 MW capacity will be built in Kolda, Senegal. This was announced on Wednesday by Axian Energy, a subsidiary of the Madagascar-based Axian Group. The plants will also feature a 72 MWh battery energy storage system (BESS). Set for completion in 2026, the project will provide clean energy to approximately 235,000 households in the Casamance region.

The Kolda solar farm project is valued at over $111.92 million. Upon completion, it will be the largest solar facility with battery storage in West Africa. It is expected to provide reliable power during peak demand and help stabilise the region’s power grid. The project funding includes $89.27 million in financing secured by Axian, with contributions from the Emerging Africa and Asia Infrastructure Fund (EAAIF), Dutch development bank FMO, and German bank DEG. EAAIF and FMO provided $32.4 million each, while DEG added $24.4 million.

FMO board member Huib-Jan De Ruijter said the project will bring cleaner and affordable electricity to Casamance.

“On completion, the Kolda project will provide essential grid stabilisation and ancillary services to Senegal’s utility company, Senelec, in addition to increasing the supply of much-needed clean and affordable electricity to the people and businesses of Senegal, including in the southern region of Casamance,” De Ruijter said.

Senegal plans to reach 40 per cent renewable energy capacity by 2030. The International Renewable Energy Agency (IRENA) reports that the country had 263 MW of solar capacity by the end of 2023. Under the current administration, led by President Bassiro Diomaye Faye, Senegal is actively investing in its energy sector and expanding transportation networks to boost its economy and support regional trade. These investments are expected to improve stability and drive economic growth across West Africa.

 

Read More:

Zambia’s Hydropower Crisis Worsens As Lake Kariba Water Levels Hit Record Low

Despite Increased Budget on Security, Data from NHRC Shows Alarming Rate of Killings and Kidnappings

The FBI, CIA, DEA Just Delivered the Biggest Blow to Democracy in Africa

About The Author

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles

U-17 Africa Cup
NewsSports

CAF U-17 Nations Cup: Golden Eaglets Absent as Morocco Thrash Uganda in Opener

The TotalEnergies U-17 Africa Cup of Nations is underway in Morocco, and...

N’Golo Kanté
HealthNews

N’Golo Kanté Donates Multi-million Medical Centre in Mali to Cater to Women and Children

French international footballer N’Golo Kanté has invested $5 million—equivalent to more than...

Petrol Prices
News

Petrol Prices Soar Past ₦930/Litre, May Hit ₦1,000 Without Naira-for-Crude Deal Extension

In the past days, petrol prices have surged from approximately N860 per...

Enugu and Benue Insecurity
NewsSecurity

Non-state Militia Attacks Worsen in Benue and Neighbouring Eha-Amufu, Enugu; Residents Condemn Government Silence

Herdsmen attacks and insecurity are worsening in Benue and neighbouring Enugu State,...