ShareThe Emerging Africa Infrastructure Fund (EAIF), a subsidiary of the Private Infrastructure Development Group (PIDG), has pledged a senior secured loan facility worth $30 million to AXIAN Energy. This financial commitment is integral to AXIAN Energy’s growth strategy, which aims to establish more than 460 Megawatts (MW) of utility-scale renewable energy generation capacity throughout Africa in the coming decade. While initially concentrated on oil and gas distribution, AXIAN Energy has strategically transitioned its focus to renewable energy since 2017. This investment aligns perfectly with EAIF’s overarching goal of improving energy access, which will directly benefit AXIAN Energy Group’s initiatives in rural areas with limited access to power. Benjamin Memmi, the CEO of AXIAN Energy, expressed, “This facility represents a significant milestone in our pursuit of sustainable development and energy inclusion across Africa.

Source: The North Africa Journal January 03, 2024 18:32 UTC