Axian Energy and Sika Capital to build four solar plants in Benin
€35 million in financing secured from development finance institutions.
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Axian Energy, a pan-African renewable energy player, and Sika Capital have announced the launch of a project to build four solar power plants in Benin.
The project consists of the construction of four solar power plants strategically located across the country. With a total capacity of 50 MWac, the plants will supply clean electricity to the equivalent of 50,000 households, directly contributing to Benin's national objective of achieving 30% renewable energy in the energy mix by 2030.
Representing a total investment of €45 million, the project is backed by an alliance of public and private stakeholders. Financing of €35 million will be provided by two development finance institutions.
Benjamin Memmi, CEO of Axian Energy, stated: "This project represents a decisive milestone for Benin and for our shared ambition: making renewable energy accessible to as many people as possible. Together with Sika Capital and the Beninese authorities, we will work to deliver this major project that will lay the foundations for a more inclusive and resilient energy future for the country."
Tchegnon Amoussou, chairman of Sika Capital, stated: "After five years of preparation in close collaboration with the Government of Benin, local authorities, and the communities of Bohicon, Parakou, Djougou and Natitingou, we are proud to announce the first independent power producer based on renewable energy in Benin. This project demonstrates Benin's attractiveness for infrastructure investment. We are delighted to partner with Axian Energy on this project to develop four solar plants that will supply electricity to more than 50,000 households while supporting Benin's ambition to expand renewable energy production."
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