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

Confidence UbaniNovember 14, 20241 Mins read131

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.

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