AXIAN Energy, the energy arm of the pan-African AXIAN Group led by Malagasy businessman Hassanein Hiridjee, has entered Zambias power market with the acquisition of the Bangweulu Solar PV plant, its first investment in the country, as the firm expands its renewable energy portfolio to support Zambias rising electricity demand.
The plant, located in the Kafue District of Lusaka Province, with an installed capacity of 54.3-megawatt spans 52 hectares and produces an average of 87 gigawatt-hours of electricity a year, enough to power roughly 82,500 homes.
The facility was developed under the World Banks Scaling Solar program, which helps accelerate private investment in solar energy in emerging markets. Financing for the project was provided by the International Finance Corporation IFC and the U.S. International Development Finance Corporation DFC.