AXIAN Energy, a renewable energy developer and member of the AXIAN Group, has secured up to €55.5 million (approximately $62.34 million) in financing from Dutch development bank FMO for the Kong solar power plant in Côte d’Ivoire. Announced in mid-October 2026, the agreement supports the company’s expansion in West Africa.
The 50 MWp Kong solar plant is expected to begin operations in 2028 and generate 96 GWh of electricity annually. CI-ENERGIES will purchase the electricity under a 25-year power purchase agreement. FMO will provide the project’s entire long-term debt financing, with a repayment period of 20 years.
AXIAN Energy owns a 55% stake in Africa Via, an Ivorian developer that holds 51% of the Kong Solar project company. InfraCo, part of the Private Infrastructure Development Group (PIDG), owns the remaining 49%. PIDG is a development finance organization backed by several governments.
The Kong project builds on AXIAN Energy’s existing partnerships with development finance institutions. In March 2026, the company completed a €72 million financing package for its Kolda solar plant in Senegal. The project combines 60 MWp of solar capacity with 72 MWh of battery storage. FMO, the Emerging Africa & Asia Infrastructure Fund (EAAIF), and German development finance institution DEG arranged the financing.
In December 2023, EAAIF provided AXIAN Energy with a $30 million loan to support the expansion of its renewable energy operations across Africa. These financing agreements contribute to the company’s target of reaching 2 GW of installed renewable energy capacity by 2030.
AXIAN Energy also secures financing from commercial banks. In June 2026, the group signed a $60 million financing agreement with Mauritius Commercial Bank (MCB) to support its expansion across Africa.
source: www.ecofinagency.com
African Energy Council