New solar assets in Madagascar and Burkina Faso for AXIAN Energy

GreenYellow is transferring its solar installation shares in Madagascar and Burkina Faso to the AXIAN Group. Both parties are actively collaborating to finalize the transaction swiftly.

Since 2017, AXIAN Energy has aimed to develop 500 MW of renewable energy in Africa within three years, making clean energy more accessible. As part of its commitment to climate transition, the group is acquiring GreenYellow’s minority shares in their joint ventures in Madagascar.

Their joint social ventures (JVs) include the Ambatolampy solar plant with a capacity of 40 MWc and 5 MWh of storage, and four hybrid plants in the SAVA and Menabe regions, totaling over 6 MWc. These installations provide electricity to 600,000 people. Additionally, the multinational corporation is acquiring 95 % of a 30 MWc photovoltaic plant in Nagréongo, providing energy to over 100,000 people in West Africa.

For GreenYellow, this sale agreement in Africa aligns with its strategy of redeployment and expansion in Europe. Choosing AXIAN as the buyer stems from a fruitful collaboration and the group’s commitment to Africa. Pierre Marouby, CEO of GreenYellow Austral, states: « We are delighted with this handover to AXIAN, our long-standing partner in Madagascar. We are confident that the group will continue to operate these projects with ambition and success and further its development in Africa. »