Grace Ashiru
Benin’s renewable energy sector is set for a significant expansion after pan-African energy developer AXIAN Energy secured €30 million (approximately $33.7 million) in financing to support the development of four solar photovoltaic power plants.
The projects will have a combined generation capacity of 62 megawatts (MW), representing an important investment in the West African country’s electricity infrastructure.
The financing is being provided by the International Finance Corporation (IFC) and French development finance institution Proparco, both of which support private sector development and sustainable infrastructure investments in emerging markets.
According to AXIAN Energy, the four facilities will become the first solar power projects developed by an independent power producer in Benin.
The initiative marks a significant step towards increasing private sector participation in the country’s electricity generation market.
Proparco estimates that the combined solar portfolio will represent nearly 10% of Benin’s currently installed electricity generation capacity, highlighting the potential contribution of the projects to the national energy system.
French engineering and technology company Sagemcom has been selected to undertake the engineering, procurement, and construction of the four solar facilities.
The company will also manage operations and maintenance during the first two years after the plants become operational.
AXIAN Energy Chief Executive Officer Benjamin Memmi described the financing agreement as an important development in opening Benin’s energy sector to private investment.
The project brings together several organisations, including AXIAN Energy Green, Sika Capital, IFC, and Proparco, reflecting collaboration between private developers and international development finance institutions.
Proparco’s West Africa Regional Director, Sadio Dicko, emphasised the importance of supporting renewable electricity generation while encouraging further private investment in the country.
The financing adds to AXIAN Energy’s growing portfolio of renewable energy projects across Africa.
In October 2026, the company also secured a power purchase agreement with Africa GreenCo for a 240MW solar development in Zambia.
For Benin, the planned solar plants could help diversify electricity generation sources, reduce dependence on conventional energy infrastructure, and support long-term energy security.
The development also illustrates the increasing role of international financing partnerships in advancing renewable energy investments across West Africa.
Once operational, the facilities are expected to strengthen Benin’s domestic electricity supply and contribute to its broader energy transition objectives.
