Renewable energy : Emerging Africa Infrastructure Fund grants a $30 million loan to AXIAN Energy
Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, has granted a $30 million senior loan to AXIAN Energy to support its expansion plan to produce over 460 megawatts (MW) of renewable energy in Africa over the next ten years.
AXIAN Energy, established in 2001 initially through its subsidiary Jovena, is a leading oil and gas distributor in Madagascar. Since 2017, the AXIAN Group’s Energy division has embarked on a strategic plan to develop its activities in the renewable energy sector.
Through this new financing, EAIF supports AXIAN’s ambition to develop its decarbonized energy activities and diversify through the acquisition, development and execution of new solar power plant projects in several African countries including Senegal, Madagascar, Mozambique, Tanzania, Sao Tome and Principe, Cape Verde, Gabon, Rwanda…
