Axian Secures €84M for Senegal's Largest Solar Project

• Axian Energy secures €84M for Western Africa's largest solar project, boosting Senegal's renewable energy capacity and empowering 235,000 residents with sustainable power by 2026.

Axian Energy has secured EUR 84 million (USD 89.1 million) in financing for a 60-MW solar project in Senegal, aimed at enhancing renewable energy capacity in the region. The funding will support the Kolda project, which includes the development of two photovoltaic parks and a 72-MWh battery energy storage facility. The total project cost is estimated at over EUR 105 million, with debt financing provided by Emerging Africa & Asia Infrastructure Fund (EAAIF), Dutch development bank FMO, and German development finance institution DEG.

Located in Senegal's Kolda region, the solar complex is set for commissioning in 2026 and is expected to supply electricity to approximately 235,000 residents. Upon completion, Kolda will become the largest solar park in Western Africa with integrated battery storage, offering up to three hours of backup power during peak times. This initiative aligns with Senegal's target of achieving 40% renewable energy capacity by 2030.

What impact will Axian Energy's Kolda project have on Senegal's renewable energy goals?

Impact of Axian Energy's Kolda Project on Senegal's Renewable Energy Goals

• Increase in Renewable Energy Capacity: The Kolda project will significantly contribute to Senegal's renewable energy capacity, helping the nation move closer to its ambitious goal of achieving 40% energy production from renewable sources by 2030.
• Enhanced Energy Security: The integration of a 72-MWh battery storage facility will provide critical backup power during peak demand periods, enhancing the reliability and stability of the energy supply in the region.
• Support for Local Communities: By supplying electricity to approximately 235,000 residents, the Kolda solar complex will improve access to energy in rural and underserved areas, promoting social and economic development.
• Job Creation Opportunities: The construction and operation of the solar project will create jobs, both directly and indirectly, boosting local economies and providing skills development opportunities in renewable energy sectors.
• Reduction of Carbon Emissions: Transitioning to solar energy will contribute to a reduction in greenhouse gas emissions, aligning with global climate action goals and enhancing Senegal's commitment to sustainable energy development.
• Promotion of Solar Technology: The Kolda project will showcase advanced solar technology in the region, potentially attracting further investments in renewable energy and inspiring similar projects across Senegal and West Africa.
• Boost to Economic Development: Reliable and sustainable energy sources are critical for industrial growth and economic diversification, which the Kolda project is poised to support, consequently aiding in the attraction of foreign investments.
• Aligning with National Energy Policies: The project supports Senegal’s strategic plan to diversify its energy sources away from fossil fuels, aligning with national policies aimed at sustainable development and energy independence.
• Strengthening Regional Integration: By enhancing energy infrastructure, the Kolda project has the potential to facilitate energy trade with neighboring countries, contributing to regional energy security and cooperation.
• Community Engagement and Support: A well-implemented project will require community involvement and buy-in, potentially leading to educational initiatives about renewable energy and fostering a culture of sustainability among local populations.
• Long-Term Sustainability Goals: By investing in renewable energy initiatives like the Kolda project, Senegal is building a foundation for long-term sustainability, ensuring future generations have access to clean and reliable energy sources.