In a significant move toward expanding its footprint across the African continent, AXIAN, a responsible pan-African group operating in various high-growth sectors, including energy, has recently inked an agreement to acquire solar assets in Madagascar and Burkina Faso from its strategic partner, GreenYellow. The collaboration signifies a commitment to advancing clean energy solutions in key regions.
As part of this transformative transaction, AXIAN is set to acquire minority shares from GreenYellow in their joint ventures in Madagascar, featuring the noteworthy Ambatolampy solar power plant, the largest in the Indian Ocean with a capacity of 40MWp and 5MWh of battery storage. Additionally, four hybrid power plants in the SAVA and Menabe regions, collectively boasting a photovoltaic capacity of over 6MWp, are included. These projects are poised to enhance electricity access for approximately 600,000 people, underscoring AXIAN’s dedication to renewable energy development in Madagascar.
The pan-African group is also expanding its influence in West Africa through the acquisition of a 95% stake in a 30MWp power plant in Burkina Faso’s Nagréongo, providing energy access to more than 100,000 people. Since 2017, AXIAN Energy has been steadfastly committed to a strategic plan aimed at amplifying its presence in the renewable energy sector. Over the next three years, the group aims to develop 500MW of renewable energy in Africa, contributing to the promotion of clean and affordable energy accessibility for the population.
Benjamin Memmi, CEO of AXIAN Energy, expressed optimism about the acquisition, stating, “2024 promises to be a year full of projects for AXIAN Energy,” emphasizing the group’s commitment to positive impact and socio-economic development through accessible and sustainable energy solutions.
Pierre Marouby, CEO of GreenYellow Austral, added, “We are delighted with this ‘handover’ to AXIAN, our longstanding partner in Madagascar,” highlighting the successful completion of the overall project and expressing confidence in AXIAN’s ability to continue operating and developing these projects with ambition and success.
