AXIAN, a responsible pan-African group operating in five high-growth potential sectors, including energy, is advancing towards strengthening its presence on the African continent. The group recently signed an agreement for the acquisition of solar assets in Madagascar and Burkina Faso from its strategic partner GreenYellow, a committed player in the energy transition for its clients, businesses, and communities. AXIAN and GreenYellow teams are now actively collaborating to close the transaction rapidly.
As part of this major transaction, AXIAN is acquiring the minority shares of GreenYellow in their joint ventures in Madagascar, including the largest solar power plant in the Indian Ocean, Ambatolampy, with a capacity of 40MWp and 5MWh of battery storage, as well as four hybrid power plants located in the SAVA and Menabe regions, totaling a photovoltaic capacity of over 6MWp. These projects contribute to improving access to electricity for approximately 600,000 people and reaffirm AXIAN’s commitment to the development of renewable energy in Madagascar.
AXIAN is also strengthening its presence in West Africa, with the acquisition of a 95% stake in a 30MWp power plant in Burkina Faso located in Nagréongo, which is making energy accessible to more than 100,000 people. Since 2017, the Energy division of the pan-African group AXIAN has been committed to a strategic plan aimed at expanding its activities in the renewable energy sector. Over the next three years, its aim is to develop 500MW of renewable energy in Africa to promote access to clean and affordable energy for the population.
For GreenYellow, this divestiture of assets in Africa is in line with its strategy to rebalance its geographical exposure and accelerate its development in Europe. The choice of AXIAN as the acquirer stems from a successful partnership and the trust that GreenYellow places in AXIAN to continue the development of the African continent.
AXIAN and GreenYellow are delighted with this historic collaboration, sharing a common ambition to promote sustainable development and make clean energy more accessible in Africa.
Benjamin Memmi, CEO of AXIAN Energy states: “The acquisition of the solar assets in Madagascar and Burkina Faso from GreenYellow, our longstanding partner, materializes our growth ambition on the continent and underscores AXIAN Group’s commitment to making a positive impact and contributing to the socio-economic development of Africa through accessible and sustainable energy solutions. 2024 promises to be a year full of projects for AXIAN Energy.”
Pierre Marouby, CEO of GreenYellow Austral, adds: “We are delighted with this ‘handover’ to AXIAN, our longstanding partner in Madagascar. It is part of an overall project that has been successfully completed step by step, and which illustrates our repositioning strategy with other transactions. We are fully convinced that AXIAN will continue to operate these projects and pursue its development in Africa with ambition and success”.
