Hassanein Hiridjee’s AXIAN Joins Guinea Solar Project

Madagascar billionaire Hassanein Hiridjee’s AXIAN Group is expanding its renewable energy business in West Africa after its energy division joined a 50-megawatt solar power project in Guinea, with construction targeted to begin in 2027.

AXIAN Energy is joining the Khoumagueli solar project alongside InfraCo, the project development arm of the Private Infrastructure Development Group (PIDG). The move replaces French renewable energy developer Solvéo Énergies, which had worked on the project for several years. AXIAN Energy chief executive Benjamin Memmi announced the company’s entry during a visit to Conakry, Guinea’s capital.

The project is intended to diversify Guinea’s electricity supply, which relies heavily on hydropower and can be affected by seasonal rainfall fluctuations. The planned solar facility will complement the country’s existing hydroelectric infrastructure, including the 75 MW Garafiri dam.

Under the proposed operating arrangement, solar generation during daylight hours could allow the dam to conserve water for electricity production at night. The approach is designed to improve the reliability of power supplies, particularly during periods of reduced rainfall. 

The project already has a long-term commercial framework. Its developers signed a 25-year power purchase agreement with state-owned utility Électricité de Guinée in 2021, establishing a buyer for the electricity generated by the plant. Construction is now targeted to begin in 2027, although the project must progress through the remaining development and implementation stages before it can supply the grid. 

For Hiridjee, the project adds to AXIAN’s growing portfolio of energy investments across Africa. The group operates across telecommunications, financial services, real estate and energy, with renewable power becoming an increasingly important part of its regional expansion strategy.

AXIAN has also been advancing solar projects elsewhere in West Africa. In October, the group and its partners secured up to €55.5 million in long-term financing from Dutch development bank FMO for the 50 MWp Kong solar project in Côte d’Ivoire. That facility is expected to generate about 96 gigawatt-hours of electricity annually once operational.

AXIAN Energy says it aims to reach 2 gigawatts of installed renewable energy capacity by 2030. Its expansion depends on converting project partnerships and financing commitments into operating power plants across its markets. 

The Khoumagueli project gives the group another opportunity to expand its presence in African electricity generation while supporting Guinea’s efforts to diversify its energy mix. The next major milestone will be the planned start of construction in 2027.