AXIAN Energy has reached financial close for the NEA Kolda photovoltaic power plant located in the Casamance region of Senegal, marking a major milestone for one of West Africa’s largest solar-plus-storage projects.
The project, which began construction in May 2025 using the company’s own funds, will feature an installed capacity of 60 MWp alongside 72 MWh of battery energy storage (BESS). Once operational, it will be the largest photovoltaic facility with integrated storage in West Africa. Commercial operations are expected to commence in November 2026.
The NEA Kolda plant is projected to generate approximately 91 GWh of clean electricity annually, contributing significantly to strengthening Senegal’s energy supply.
International Financing Secured
The project has secured €72 million in financing, structured by Emerging Africa and Asia Infrastructure Fund (EAAIF) and FMO, alongside DEG. The participation of these institutions highlights strong international confidence in the project’s technical and financial viability, as well as in AXIAN Energy’s execution capabilities.
Commenting on the development, Benjamin Memmi stated that the financial close represents one of the largest energy infrastructure financings in Africa this year and underscores the company’s commitment to delivering reliable and accessible clean energy.
Supporting Senegal’s Energy Transition
The project aligns with Senegal’s target of achieving 40% renewable energy in its electricity mix by 2030. Power generated from NEA Kolda will be supplied to the national grid under a 25-year Power Purchase Agreement (PPA) with Senelec, providing electricity to more than 235,000 households.
The integration of battery storage is expected to enhance grid stability, particularly during peak demand periods, while supporting higher penetration of renewable energy.
Driving Regional Development
Beyond energy generation, the project is expected to deliver significant environmental and socio-economic benefits. It is projected to avoid nearly 59,000 tonnes of CO₂ emissions by 2030, contributing to Senegal’s climate goals.
The development will also create employment opportunities, engaging around 400 local workers during construction and operations, while facilitating skills development.
Additionally, AXIAN Energy has committed CFA 2 billion towards community development initiatives focused on healthcare, education, sports and culture, local economic growth, and climate action.
Construction is currently underway, with commissioning scheduled for late November 2026.
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