Benin signed financing agreements in Cotonou on 29 October for IPP50, a group of four solar plants with about 62 megawatts of capacity in Natitingou, Djougou, Parakou and Bohicon. The International Finance Corporation (IFC) and the French development lender Proparco are providing €30 million (about $34 million), according to the developer, AXIAN Energy. The concessions were awarded in 2022, but the project stalled after costs rose and its first sponsor left, until AXIAN took it over in 2024. The plants are due to produce about 110 gigawatt-hours a year from early 2028 and spread generation to the north and centre of the country. AXIAN describes IPP50 as Benin’s first solar project built by an independent power producer.
Sources
- Ecofin Agency: https://www.ecofinagency.com/news-industry/3010-60308-benins-62-mw-solar-project-secures-30-million-in-financing-four-years-after-concession-agreements
- La Météo: https://www.lameteo.info/energie-solaire-au-benin-les-accords-de-financement-du-projet-ipp50-signes-pour-la-construction-de-4-centrales-de-62-mwc/