Pan-African renewable energy company Axian Energy has announced the financial close of the 60MWp NEA Kolda solar photovoltaic plant in the Casamance region of Senegal. Construction of the project began in May 2025, initially funded by the company’s own resources.
With 72 MWh of battery energy storage (BESS), the NEA Kolda solar plant is poised to become the largest photovoltaic project combined with battery storage in West Africa. Commercial operations are scheduled to commence in November 2026.
The facility is backed by a €72 million financing package that was structured by leading international partners including the Emerging Africa and Asia Infrastructure Fund (EAAIF), and FMO (Netherlands’ Entrepreneurial Development Bank) acted as arrangers, alongside DEG-Deutsche Investitions- und Entwicklungsgesellschaft mbH.
According to Axian Energy, the strong backing from international financial partners underscores the project’s technical and economic soundness, along with the trust placed in the company by Senegalese authorities and Senelec, as well as confidence in its operational expertise.
“The financial close of NEA Kolda represents one of the largest energy infrastructure financings in Africa this year and marks a key milestone for AXIAN Energy’s expertise,” said Benjamin Memmi, CEO of AXIAN Energy.
“AXIAN Energy, committed to meeting the commercial commissioning schedule with Senelec and Senegalese authorities, and in recognition of the trust placed in us, began construction in May 2025 using our own funds.”
“This financial close with our partners demonstrates our shared commitment to delivering clean and accessible energy, while also serving as a catalyst for local development, generating tangible and lasting benefits at the regional level,” Memmi concluded.
Advancing decarbonisation in Senegal
The NEA Kolda solar photovoltaic plant is expected to be commissioned by the end of November 2026. The facility will help support Senegal reach its goals for decarbonizing its energy production. The West African nation aims to raise the share of electricity generated from renewables to 40% of its energy mix by 2030.
The clean electricity produced will be secured for the national grid under a 25-year Power Purchase Agreement (PPA) with Senelec, supplying power to more than 235,000 Senegalese households.
The solar power plant is expected to avoid nearly 59,000 tons of CO₂ emissions by 2030. The project will mobilize close to 400 young talents from the region during the construction and operational phases, fostering local employment and skills transfer.
Additionally, the integration of battery storage will enhance grid resilience during peak demand periods and support the increasing penetration of renewable energy into the national mix.
AXIAN Energy is allocating CFA 2 billion to a high-impact social investment program structured around five priority areas: healthcare, education, sports and culture, local economic development, and climate change management. These initiatives are designed to sustainably empower communities and promote inclusive development.
