AXIAN Energy Secures €72m for Senegal Solar Project, Targets 235,000 Households

AXIAN Energy has secured €72 million (approximately $83 million) in financing for its NEA Kolda photovoltaic project located in the Casamance region of Senegal.

The funding package was arranged by the Emerging Africa and Asia Infrastructure Fund (EAAIF) and FMO, alongside DEG, reinforcing investor confidence in the large-scale renewable energy initiative.

The NEA Kolda project will deliver 60 megawatts peak (MWp) of solar capacity, supported by a 72 megawatt-hour (MWh) battery energy storage system. Construction of the facility commenced in May 2025 using AXIAN Energy’s internal funds, underscoring the company’s early commitment to project execution.

Chief Executive Officer of AXIAN Energy, Benjamin Memmi, said the early construction start reflects the firm’s determination to meet its commercial operation timeline with Senegal’s national utility, Senelec, as well as the confidence shown by financing partners.

The project is scheduled to begin commercial operations in November 2026. Once completed, it is expected to generate about 91 gigawatt-hours (GWh) of clean electricity annually, providing power to more than 235,000 households under a 25-year Power Purchase Agreement with Senelec.

The development aligns with Senegal’s broader energy strategy, which targets increasing the share of renewable energy in the national electricity mix to 40 per cent by 2030.