$5.6M Grant Backs AXIAN Expansion

Key Figures & Findings: AXIAN Energy an emerging independent power producer with growing regional influence in solar and hydro projects headquartered in Madagascar, has received a $5.6 million grant from the Sustainable Energy Fund for Africa (SEFA), administered by the African Development Bank Group, to support the early-stage development of its 1.5 GW renewable energy pipeline across six African nations. According to Benjamin Memmi, CEO of AXIAN Energy, the funding validates the firm’s local-first development model and will help address structural financing gaps that often slow clean energy progress on the continent.

Insights: The project pipeline spans Côte d’Ivoire, Mauritius, Mozambique, Madagascar, Sierra Leone, and Zambia, and consists mainly of solar and hydro technologies. The grant forms part of AfDB’s broader strategy to support Africa’s M300 initiative, which targets electricity access for 300 million people by 2030.

Future Implications: If executed as planned, the funding could help de-risk early-stage clean energy development and attract follow-on capital across AXIAN’s target markets. The scale and spread of the projects suggest that delivery could begin yielding tangible results by 2026.

Source: SolarFinanced Africa