Axian Energy has secured €84 million to develop the Kolda solar-storage project in southern Senegal, combining a 60 MW solar plant with a 72 MWh battery system. Set to serve around 235,000 people by 2026, the project will provide reliable energy to underserved areas and stabilize the grid during peak times.
Kolda Solar-Storage Project to Serve Thousands in Senegal
Axian Energy has secured €84 million ($89.2 million) in financing for an ambitious solar-storage project in southern Senegal. The initiative—set to become the largest of its kind in West Africa—combines a 60 MW solar plant with a 72 MWh battery energy storage system (BESS). Located in Kolda, the project will bring reliable and sustainable energy to underserved areas.
Leading the €84 million investment are the Emerging Africa and Asia Infrastructure Fund (EAAIF), Dutch development bank FMO, and Deutsche Investitions- und Entwicklungsgesellschaft (DEG). The debt financing includes commitments of €30.5 million each from EAAIF and FMO, along with €23 million from DEG. With a total estimated cost of €105 million, the project demonstrates significant commitment from international investors.
Once operational in 2026, the Kolda solar-storage project will provide stable power to approximately 235,000 people. Its 60 MW solar component will operate alongside a battery storage system capable of up to 72 MWh. During evening peak times, the BESS is designed to supply three hours of energy to stabilize the grid and support Senegal’s national utility, Senelec.
Huib-Jan De Ruijter, a board member of FMO, stated that the Kolda solar project would support the grid, provide essential services, and increase access to affordable electricity for residents and businesses—especially in the Casamance region. This project not only addresses Senegal’s energy needs but also contributes to long-term stability and development in the area.
Senegal’s Renewable Energy Goals and the Role of Solar-Storage
Senegal is aiming for 40% renewable energy capacity by 2030, and its current solar capacity stands at 263 MW, according to the International Renewable Energy Agency (IRENA). The Kolda project will contribute to this goal by reducing reliance on fossil fuels and helping provide consistent power during peak demand.
Solar-storage projects like Kolda are crucial to Senegal’s energy transition. While solar power alone can be inconsistent, the addition of battery storage ensures a steady supply. During the day, excess solar energy is stored in batteries and later released in the evening when demand peaks. This approach stabilizes the grid, provides a reliable energy supply, and reduces dependence on non-renewable sources.
The Kolda project is part of a broader strategy by Axian Energy, a subsidiary of Madagascar-based Axian. The company already has renewable energy projects across seven African countries and plans to extend its reach to eight more. With a combined operational capacity of 133 MW, Axian aims to increase this to 1 GW by 2030. This expansion reflects the company’s goal of becoming a major player in Africa’s clean energy sector.
International Support for Solar-Storage in Senegal
The financial backing from EAAIF, FMO, and DEG reflects international confidence in both the Kolda solar project and Senegal’s broader renewable energy sector. Each institution brings extensive experience funding large-scale infrastructure and clean energy projects. Their involvement helps ensure the Kolda project has the resources and support needed to achieve its goals.
The Emerging Africa and Asia Infrastructure Fund (EAAIF) is known for backing critical projects in emerging markets, while FMO, the Dutch entrepreneurial development bank, has a strong track record of supporting renewable energy initiatives globally. DEG, a German investment organization, specializes in sustainable development and brings significant experience from Africa’s renewable energy landscape.
The Kolda solar-storage project represents a significant step toward Senegal’s renewable energy goals. With financing secured and plans in place, Axian Energy and its partners are poised to make a substantial impact on the country’s energy landscape. By combining solar power with battery storage, the project not only aligns with global trends but also offers a sustainable solution for long-term energy stability.
