The pan-African group Axian, which specializes in energy, has revealed that it has invested in Gigawatt Global Rwanda Ltd. (Gigawatt Rwanda), a solar power plant situated on the premises of the Village des Jeunes Agahozo-Shalom in Rwamagana, Rwanda. The company’s first investment in Rwanda is this transaction, which it completed in conjunction with renewable energy investment management firm Fortis Green Renewables Investment Management.
“Our first venture into the Rwandan market is the purchase of shares in the Rwamagana solar power facility. As stated by Benjamin MEMMI, CEO of Axian Energy, “We are thrilled to be working together with our local partner Fortis Green Renewables, with whom we share a common ambition: to offer sustainable and accessible energy solutions that improve the daily lives of local populations.”
This 8.5 MW DC solar power station is situated 60 km east of Kigali. Since its 2014 launch, it has given around 140,000 beneficiaries access to dependable electricity. The initiative, which has installed more than 28,000 solar photovoltaic panels, is assisting Rwanda in gaining better access to clean, renewable energy.
Under the leadership of businessman Hassanein Hiridjee, Axian has become one of the top pan-African firms on the continent in recent times. With operations in 17 countries now, the business is focused on a number of industries, including financial services, telecoms, and energy. The Emerging Africa Infrastructure Fund (EAIF) provided funding to the organization earlier this year in order to help its diversification into solar energy through the purchase, development, and construction of new photovoltaic power plant projects in multiple African nations.
Axian Energy is growing throughout Africa, especially in the field of renewable energy. The acquisition of the solar assets in Madagascar and Burkina Faso owned by French company GreenYellow was disclosed by the company in February. Axian Energy is constructing the 120 megawatt Volobe hydroelectric power project in Madagascar, where it is well-established, in collaboration with Africa50. About 2 million more people in Madagascar will have access to inexpensive, low-carbon electricity thanks to this significant project.
