| Project Detail |
The Bank will actively support AEG through SEFA, with a repayable grant from MFPP, to assist in the development and preparation of AEGs projects in the renewable energy sub-sector. The aim of this collaboration is to build a strong pipeline of investment-ready projects, with the Bank providing its expertise to ensure that projects meet the required standards. The AfDB will oversee the projects progress, help structure it to ensure bankability, and maintain an advisory role throughout the preparation phase to attract additional private investment.
Project Objectives
Axian Energy, through Axian Energy Green (AEG), is advancing renewable energy with a project pipeline of 1,300 MW and a target of 500 MW operational capacity by 2025. AEG is involved in large-scale power, mini-grid, commercial and industrial projects across Africa. The African Development Bank (AfDB), through the Sustainable Energy Fund for Africa (SEFA), is providing AEG with a Project Preparation Financing Facility (PPFF) to finance AEGs portfolio of solar photovoltaic and battery energy storage system (BESS) projects in Côte dIvoire, Mauritius, Mozambique, Senegal, Sierra Leone, Tanzania and Zambia, including new projects and hydropower plant rehabilitation projects.
Beneficiaries
The project is expected to avoid more than 700,000 tonnes of CO2 emissions per year, unlock nearly US$1 billion in total investment, and create more than 2,000 jobs during construction and no fewer than 200 operational jobs in nine jurisdictions.q |
