AXIAN Energy secures €30 million from IFC and Proparco to develop four solar power plants in Benin with 62 MW combined capacity.
Amount Raised
$33.7 Million
Round Type
Debt Financing
Investors
Description
AXIAN Energy has secured €30 million (approximately $33.7 million) in financing from the International Finance Corporation (IFC) and French development finance institution Proparco to support the development of four solar photovoltaic power plants in Benin. The projects will have a combined generation capacity of 62 megawatts and represent the first solar power projects developed by an independent power producer in the country. Sagemcom has been selected to handle engineering, procurement, construction, and operations and maintenance for the first two years. The initiative marks a significant step towards increasing private sector participation in Benin's electricity generation market.
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