AXIAN Energy strengthens renewable pipeline with $60 million financing facility

AXIAN Energy has secured a USD 60 million financing package from Mauritius Commercial Bank (MCB), providing fresh capital to advance renewable energy developments across its expanding African portfolio.

The facility is expected to bolster the company’s ability to progress projects from development to implementation, supporting investments in solar power and energy storage across multiple markets as demand for clean energy infrastructure continues to grow.

The financing package comprises a USD 40 million revolving credit facility with a three-year maturity, including an extension option, together with USD 20 million in unfunded trade and guarantee instruments. The structure is intended to provide AXIAN Energy with greater financial flexibility, enabling the company to deploy capital rapidly as new project opportunities emerge.

The agreement reinforces the long-standing relationship between the two pan-African organisations and reflects increasing confidence from financial institutions in the commercial viability of renewable energy investments across the continent.

AXIAN Energy is currently developing utility-scale solar projects in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar and Burkina Faso. The company says it now operates 350 MW of installed renewable generation capacity, complemented by 77 MWh of battery energy storage, positioning it to support grid stability and expand access to low-carbon electricity.

MCB, which has built a growing presence in infrastructure and energy financing, structured the transaction to meet AXIAN Energy’s long-term funding requirements. The bank said the facility aligns with its strategy of supporting projects that contribute to sustainable economic development while accelerating Africa’s energy transition.

Benjamin Memmi, Chief Executive Officer of AXIAN Energy, described the financing as an important milestone for the business.

“This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets,” he said.

Mathieu Delteil, Global Head of Structured Finance at MCB, said the financing demonstrated the bank’s commitment to delivering tailored capital solutions for strategic infrastructure investments.

“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a financing solution aligned with AXIAN Energy’s long-term renewable energy ambitions. This partnership reflects our commitment to mobilising capital for projects that support sustainable growth and accelerate the continent’s energy transition,” he said.