- AXIAN Energy and SIKA Capital began building four solar plants in Benin, investing €45m to deliver 50 MW and power 50,000 homes.
- The project supports Benin’s 30% renewable goal by 2030 with €35m in development finance.
AXIAN Energy, a pan-African energy developer, has begun constructing four solar power plants across Benin in partnership with local investor SIKA Capital, officially entering the West African nation’s renewable energy market.
The €45 million initiative will deliver solar facilities in Bohicon, Parakou, Djougou, and Natitingou, adding a combined capacity of 50 megawatts. These plants will supply clean electricity to nearly 50,000 households and advance Benin’s goal of achieving 30% renewable energy in its national mix by 2030.
Meanwhile, development finance institutions contribute €35 million in project financing, demonstrating confidence in the infrastructure’s technical viability and socioeconomic impact. AXIAN Energy, SIKA Capital, and other private investors will provide the remaining funds.
AXIAN Energy CEO Benjamin Memmi called the project a decisive milestone for expanding renewable energy access across the region. He stressed the company’s collaboration with Beninese authorities and SIKA Capital to deliver infrastructure, strengthening the country’s energy foundation.
SIKA Capital Chairman Tchegnon Amoussou highlighted five years of preparation, during which the firm worked closely with government officials and local communities in the four cities. He also described the project as Benin’s first independent renewable energy producer and proof of the country’s attractiveness for infrastructure investment.
In addition, the solar plants will connect to Benin’s national electricity grid through partnerships with state-owned SBPE and SBEE, the country’s generation and distribution companies. The Ministry of Energy, Water and Mines and the Ministry of Economy and Finance actively support the initiative.
Furthermore, AXIAN Energy operates renewable projects across nine African countries with a portfolio of 183 megawatts and a development pipeline exceeding 800 megawatts. The company also plans to reach one gigawatt of installed renewable capacity by 2030 as part of its pan-African expansion.
For SIKA Capital, the Benin solar plants mark a strategic step in its regional development ambitions. The Cotonou-based firm specialises in renewable and transitional energy investments across West Africa, leveraging shareholder expertise from projects totalling more than 200 megawatts.
The project will distribute the four installations across different regions, ensuring broad geographic coverage and improved grid stability. AXIAN and SIKA have not yet disclosed construction timelines or commercial operation dates.
Benin has recently accelerated its renewable energy transition to cut fossil fuel dependence and strengthen energy security. Its 2030 target aligns with broader West African regional goals for sustainable power generation.
This announcement comes as African nations increasingly attract global investment in solar and wind projects. They are capitalising on abundant natural resources and rising electricity demand driven by rapid urbanisation.