AXIAN signs an agreement to strengthen its portfolio of solar assets in Africa and support the energy transition
AXIAN, a responsible pan-African group active in five high-growth sectors, including energy, is strengthening its presence on the African continent. The group recently signed an agreement to acquire the solar assets in Madagascar and Burkina Faso of its strategic partner GreenYellow, a committed player in the energy transition for its clients, businesses and local authorities. AXIAN and GreenYellow teams are actively working together to conclude the transaction rapidly.
As part of this major transaction, AXIAN acquires GreenYellow’s minority shares in their joint JVs in Madagascar, including: the largest solar power plant in the Indian Ocean, Ambatolampy, with a capacity of 40MWp and 5MWh of battery power, as well as four hybrid power plants located in the Sava and Menabe regions, with a total photovoltaic capacity of over 6MWp. These projects will improve access to electricity for some 600,000 people, and reaffirm AXIAN’s commitment to the development of renewable energies in Madagascar.
AXIAN is also strengthening its presence in West Africa, with the acquisition of a 95% stake in a 30MWp power plant in Burkina Faso located in Nagréongo, making energy accessible to more than 100,000 people. Since 2017, the Energy division of the pan-African AXIAN Group has been committed to a strategic plan aimed at developing its activities in the renewable energy sector. Over the next three years, its aim is to develop 500MW of renewable energy in Africa to promote access to clean, affordable energy for populations.
For GreenYellow, this sale of assets in Africa is in line with its strategy to rebalance its geographical exposure and accelerate its development in Europe. The choice of AXIAN as buyer reflects a successful partnership and GreenYellow’s confidence in AXIAN’s continued development on the African continent.
AXIAN and GreenYellow are delighted with this historic collaboration, sharing a common ambition to promote sustainable development and make clean energy more accessible in Africa.
Benjamin Memmi, CEO of AXIAN Energy, comments: “The acquisition of the solar assets in Madagascar and Burkina Faso from GreenYellow, our long-standing partner, concretizes our ambition to grow on the continent and underscores the AXIAN Group’s commitment to making a positive impact and contributing to Africa’s socio-economic development through accessible and sustainable energy solutions. 2024 promises to be rich in projects for AXIAN Energy.”
Pierre Marouby, Managing Director of GreenYellow Austral adds: “We are delighted with this “handover” with AXIAN, our long-standing partner in Madagascar. It is part of a comprehensive project, successfully carried out step by step, which illustrates our repositioning strategy with other transactions. We are fully convinced that AXIAN will continue to operate these projects and expand in Africa with ambition and success.”
