NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

The Emerging Africa & Asia Infrastructure Fund (EAAIF) and the Dutch entrepreneurial development bank (FMO) acting as Co-Mandated Lead Arrangers, alongside Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG), have announced today a EUR 84 million investment in two photovoltaic solar plants with battery storage systems operated by AXIAN Energy in the southern Senegalese region of Kolda. The commitment will provide clean energy to local communities and businesses, driving forward access to electricity and economic growth in the underserved Casamance region of the country. The overall investment volume is over EUR 105 million, of which, EUR 84 million of Debt, with EUR 30.5 million provided by each of EAAIF and FMO, and EUR 23 million by DEG.

Photo courtesy of andreas160578.