Energy transition: AXIAN Energy expands in Rwanda with the acquisition of solar assets

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The energy cluster of the pan-African group Axian has announced that it has acquired a stake in Gigawatt Global Rwanda Ltd (Gigawatt Rwanda), a solar power plant located in Rwanda, on the grounds of the Village des Jeunes Agahozo-Shalom in Rwamagana. This acquisition, made alongside Fortis Green Renewables Investment Management, a renewable energy investment management company, represents the company's first investment in Rwanda.“The acquisition of shares in the Rwamagana solar power plant marks our first operation in the Rwandan market. We are delighted by this collaboration with our local partner Fortis Green Renewables, with whom we share a common ambition: to offer sustainable and accessible energy solutions that improve the daily lives of local populations”, according to Benjamin MEMMI, CEO of Axian Energy.

Located 60 km east of Kigali, this solar power plant has a capacity of 8.5 MW DC. Launched in 2014, it now provides reliable energy to almost 140,000 beneficiaries. With over 28,000 solar photovoltaic panels installed, the project is helping to improve access to clean, renewable energy in Rwanda.

Acceleration on the renewable energy front in AfricaAxian, a group headed by entrepreneur Hassanein Hiridjee, has established itself in recent years as one of the continent's leading pan-African companies. Today present in 17 countries, the group specializes in various sectors such as energy, telecoms and financial services. Earlier this year, the group secured financing from the Emerging Africa Infrastructure Fund (EAIF) to support its diversification into solar energy through the acquisition, development and implementation of new photovoltaic power plant projects in several African countries.

Axian Energy is expanding its presence in Africa, particularly in the renewable energies sector. In February, the company announced the acquisition of French company GreenYellow's solar assets in Madagascar and Burkina Faso. In Madagascar, where it has a strong presence, Axian Energy is working alongside Africa50 on the construction of the Volobe hydroelectric power station, which will have a capacity of 120 MW. This major project for Madagascar will give around 2 million more people access to low-carbon, affordable electricity.