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AXIAN Energy, the energy arm of the Pan-African AXIAN Group led by Malagasy businessman Hassanein Hiridjee, has partnered with Sika Capital to launch a $53 million solar power project in Benin. The initiative, which will be the country’s first independent renewable energy power producer, involves building four solar plants with a combined capacity of 50 megawatts.
Benin to build four solar plants
The plants will be built in Bohicon, Parakou, Djougou, and Natitingou — areas chosen because of their growing demand for electricity and development needs. Once completed, they are expected to supply clean and reliable power to around 50,000 households, supporting Benin’s target of sourcing 30 percent of its electricity from renewable energy by 2030.
The €45 million ($53 million) project is backed by both public and private partners. Development finance institutions are contributing €35 million ($41 million) in funding, signaling confidence in the project and its role in advancing sustainable energy in West Africa.
AXIAN, Sika back Benin’s energy future
Benjamin Memmi, CEO of AXIAN Energy, said the project represents an important step for both the company and Benin: “This project marks a pivotal moment for Benin and for our shared mission—to make renewable energy accessible to as many people as possible. In collaboration with Sika Capital and the Beninese authorities, we are committed to delivering a project that will help build a more inclusive and resilient energy future.”
Tchegnon Amoussou, Chairman of Sika Capital, reflected on the years of work that went into reaching this point: “After five years of preparation with the Government of Benin, local authorities, and the communities of Bohicon, Parakou, Djougou, and Natitingou, we are proud to announce the launch of Benin’s first independent renewable energy power producer.”
The project highlights Benin’s rising profile as a destination for infrastructure investment and underlines a shared commitment to expanding clean energy access. By harnessing solar power, it will help cut reliance on fossil fuels, lower carbon emissions, and improve living standards for tens of thousands of citizens.
AXIAN boosts Africa renewable energy portfolio
Headquartered in Madagascar, AXIAN Group operates in six countries and is active in energy, finance, telecommunications, and real estate. Under Hassanein Hiridjee, the group has grown into Madagascar’s largest energy producer and a strong advocate for sustainable growth. Through AXIAN Energy, it currently runs 150 megawatts of renewable projects, with more than 1 gigawatt in development.
The company is also scaling up in other parts of Africa. Last November, it secured €84 million ($89 million) in financing for two solar plants in Senegal’s Kolda region. That deal was part of a wider €105 million ($119.5 million) investment that also includes Senegal’s largest battery storage system, boosting energy supply in the Casamance area.
More recently, in May 2025, AXIAN Energy signed a $5 million financing agreement with the African Development Bank’s Sustainable Energy Fund for Africa (SEFA), further reinforcing its presence in the continent’s renewable energy sector.
