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. Expected to serve around 235,000 people by 2026, this 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. This solar-plus-storage 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). The project will be based in Kolda, providing reliable and sustainable energy to underserved areas.
The Emerging Africa and Asia Infrastructure Fund (EAAIF), Dutch development bank FMO, and Deutsche Investitions- und Entwicklungsgesellschaft (DEG) are leading this €84 million investment. Each entity has committed significant debt financing: EAAIF and FMO each contributed €30.5 million, while DEG invested €23 million. The project’s total cost is estimated at €105 million, thus demonstrating a high level of commitment from international investors.
The Kolda solar-storage project — expected to be operational by 2026 — will provide stable power for approximately 235,000 people. The solar component of the project is rated at 60 MW. It will operate alongside a battery storage system with a capacity of up to 72 MWh. During evening peak times, the BESS will supply three hours of energy, thereby stabilizing the grid and supporting 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 aims for 40% renewable energy capacity by 2030, with current solar capacity at 263 MW, according to the International Renewable Energy Agency (IRENA). The Kolda solar project will help achieve this by reducing reliance on fossil fuels and providing solar energy during peak demand times.
Solar-storage projects like Kolda are important for Senegal’s energy transition. While solar power alone can be inconsistent due to weather and sunlight availability, adding battery storage ensures a steady supply. During the day, excess solar energy is stored in batteries, then released in the evening when demand peaks. This approach provides a reliable energy supply, helping to stabilize the grid and reduce 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 has renewable energy projects across seven African countries, and it 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 aligns with the company’s goal to become 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 the Kolda solar project and in Senegal’s renewable energy sector. Each institution brings its expertise and experience in funding large-scale infrastructure and renewable energy projects. Their involvement ensures that the Kolda project will have the necessary resources and support to meet its goals and create lasting impacts.
The Emerging Africa and Asia Infrastructure Fund (EAAIF) is known for financing critical projects in emerging markets. FMO — the Dutch entrepreneurial development bank — has a track record of supporting renewable energy initiatives around the world. DEG — a German investment organization — specializes in sustainable development projects and has significant experience in 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, EAAIF, FMO, and DEG are set to make a lasting impact on Senegal’s energy landscape. The project’s combination of solar power and battery storage aligns with global trends in renewable energy and offers a sustainable solution for energy stability.