Hassanein Hiridjee powers Senegal’s solar future

Key Points

• AXIAN Energy and Voltalia are building a solar and battery storage park in Senegal’s underserved Kolda region.
• The Kolda solar park, operational by 2026, will support Senegal’s goal of 40% renewable energy by 2030 and enhance national grid reliability.
• AXIAN expands across Africa, acquiring a 49% stake in Rwanda’s Gigawatt Global to boost clean energy access for over 140,000 people.

AXIAN Energy, the energy division of the Pan-African conglomerate, AXIAN Group, led by Malagasy businessman Hassanein Hiridjee, is expanding its footprint in West Africa with plans to build a 60-megawatt solar park with battery storage in Senegal.

The project, which will provide cleaner and more reliable electricity, is expected to boost local economic development and reduce the region’s dependence on fossil fuels.

AXIAN, Voltalia power Senegal’s solar future

To bring this major initiative to life, AXIAN Energy has teamed up with French renewable energy firm Voltalia and Entech SE, a company specializing in energy storage and conversion. Together, they will construct the solar and battery facility in the Kolda region of Casamance, a largely underserved area in southern Senegal.

This new solar park is set to become one of the largest of its kind in West Africa, combining photovoltaic power generation with two battery energy storage systems (each with a 10 MW/45 MWh capacity). The facility is slated to be up and running by 2026, though the total contract value hasn’t been made public.

Once operational, the Kolda solar park will mark a significant step toward Senegal’s target of generating 40 percent of its electricity from renewables by 2030. The site will feed more solar power into the national grid, improving stability and reducing outages.

The project will cost over €105 million ($119.5 million), backed in part by financing from the Emerging Africa & Asia Infrastructure Fund (EAAIF), Dutch development bank FMO, and Germany’s DEG.

Hassanein Hiridjee drives renewable growth across Africa

AXIAN Group, headquartered in Madagascar, is active in six countries across sectors like real estate, telecommunications, finance, and energy.

Under Hassanein Hiridjee, it has become the leading energy producer in Madagascar and a strong advocate for sustainable development. Through AXIAN Energy, the group has launched hydro and solar initiatives, currently operating 150 MW of renewable projects with over 1 GW in the pipeline.

In a related move, AXIAN Energy secured €84 million ($89 million) in funding last November for two additional solar power plants in the Kolda region. The financing, part of the broader €105 million ($119.5 million) investment, supports the construction of Senegal’s largest battery storage system alongside the solar facilities, further strengthening energy access in Casamance.

AXIAN expands green energy footprint

AXIAN’s clean energy ambitions aren’t limited to Madagascar and Senegal. In July 2024, the company entered Rwanda’s renewable energy space by acquiring a 49 percent stake in Gigawatt Global Rwanda Ltd. This deal was finalized following agreements with previous shareholders Scatec ASA, Norfund, and KLP Norfund.

Gigawatt Global Rwanda operates an 8.5 MW solar plant located about 60 kilometers east of Kigali. Since 2014, the facility has supplied power to around 140,000 people through a long-term deal with Rwanda Energy Group.

It spans 50 acres and includes over 28,000 solar panels. Under the new ownership, AXIAN’s subsidiary NEA Rwanda Ltd will oversee day-to-day operations and maintenance, while Fortis Green Fund I Rwanda Holdings Ltd holds a majority 51 percent stake.