The AXIAN group, along with the Benin's Caisse des dépôts et consignations, the International Finance Corporation (IFC), and Proparco, have signed a financing agreement for the IPP50 project. This project aims to establish Benin's first solar power plant, with a total investment of 45 million euros. The financing agreement, worth 30 million euros, was signed on October 29, 2026. The project is expected to significantly boost Benin's electricity production.
The IPP50 project involves the construction of four photovoltaic plants in Natitingou, Djougou, Parakou, and Bohicon. These plants will have a combined capacity of 62 megawatts and are expected to produce approximately 110 GWh of electricity per year. This represents a 17% increase in Benin's national electricity production and will provide power to around 383,000 people. The project also aims to reduce carbon emissions by 62,000 tons per year.
The solar power plants are expected to be operational by the first quarter of 2028. The electricity generated will be sold to the Société béninoise de production d’électricité (SBPE) under a 20-year concession agreement. AXIAN, the parent company, has a significant presence in over 20 African countries and aims to install 2 GW of renewable energy capacity on the continent by 2030.
AXIAN is also a major player in Togo's telecommunications sector, owning the Yas mobile network, formerly known as Togocom. The company's expansion into renewable energy in Benin and Togo reflects a growing trend towards sustainable energy solutions in West Africa. Both countries are seeking to reduce their reliance on imported electricity and fossil fuels.
The Bénin and Togo are increasingly turning to solar energy to meet their electricity needs. The two countries, which rely heavily on the West African gas pipeline, have experienced recent power outages. Harnessing solar energy offers a promising solution to achieving energy sovereignty and reducing their carbon footprint.
The IPP50 project is a significant step towards achieving this goal. By leveraging solar energy, Benin and Togo can reduce their dependence on imported electricity and promote sustainable development. The project is also expected to have a positive impact on the local economy and create new opportunities for economic growth.
As AXIAN and its partners move forward with the IPP50 project, they are setting a precedent for renewable energy development in West Africa. The project's success could pave the way for similar initiatives in the region, helping to address the continent's energy challenges and promote sustainable development.
Key points
- The IPP50 project aims to reduce Benin's reliance on imported electricity and decrease carbon emissions by 62,000 tons per year.
- AXIAN plans to install 2 GW of renewable energy capacity across Africa by 2030.
- The solar power plants will provide electricity to approximately 383,000 people in Benin.
