In conjunction with Sika Capital, prominent pan-African renewable energy provider Axian Energy is building four solar power facilities in Benin for €45 million.
This innovative project promises to transform West African power by providing clean, reliable electricity to 50,000 households.
The project highlights solar power as a sustainable energy access alternative and boosts Benin’s renewable energy potential.
€45 million investment to ignite Benin’s solar future
Under the program, four greenfield solar photovoltaic facilities will be built using funding from development finance institutions.
According to the CEO of Axian Energy, “This project is designed not only to increase electricity supply but to empower communities with sustainable energy solutions.”
The power generated is expected to significantly reduce reliance on fossil fuels and cut carbon emissions in the country.
The involvement of Sika Capital, a local investor, highlights the participation of regional alliances in promoting renewable energy projects that successfully meet local demands.
Optimising Energy Access Through Strategic Solar Initiatives. The four planned solar plants will improve energy stability and security by adding significant capacity to Benin’s system.
The IFC’s consideration of funding a portion of the initiative indicates a high level of global trust in its potential impact.
“Our collaboration with Axian Energy and Sika Capital underlines our commitment to support innovative and scalable renewable energy projects across Africa,” noted an IFC representative.
This project will also create jobs during construction and operation, providing economic benefits beyond energy production.
Benin’s decision to invest €45 million in solar energy to increase its clean energy infrastructure is a glaring example of the continent’s transition to renewable energy.
To create a more resilient and environmentally friendly electricity infrastructure, Axian Electricity and Sika Capital are establishing a standard for future solar projects in Africa with the ambitious goal of sustainably powering tens of thousands of homes.