Image: Aboodi Vesakaran, Unsplash
The Emerging Africa and Asia Infrastructure Fund (EAAIF), the Dutch entrepreneurial development bank FMO and Deutsche Investitions- und Entwicklungsgesellschaft (DEG) have announced an investment in a solar power plant with a BESS in Senegal.
The three companies are investing €84 million ($89.2 million) in debt financing, consisting of €30.5 million from both EAAIF and FMO and €23 million from DEG.
The €105 million Kolda solar farm project will feature a 60 MW photovoltaic system with 72 MWh of battery storage. It has been announced as the largest planned solar power plant with BESS in West Africa to date.
Axian Energy is developing the Kolda solar project in southern Senegal, which is expected to be completed in 2026. The 60MW system will provide power to around 235,000 people in underserved areas, with battery storage providing up to three hours of power during evening peak hours.
FMO board member Huib-Jan De Ruijter said the project will stabilize the electricity grid and provide essential services to Senegalese utility Senelec, while boosting affordable electricity for people and businesses, especially in the Casamance region.
Senegal has set a target of reaching 40% of renewable energy capacity by 2030. Figures from the International Renewable Energy Agency (IRENA) show that the country had 263 MW of cumulative solar capacity at the end of 2023.
Axian Energy, a subsidiary of Madagascar-headquartered Axian, has renewable energy projects in seven African countries and projects in the pipeline in eight other countries. The operational projects have a combined capacity of 133 MW, which it plans to expand to 1 GW by 2030.
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