62 MW Solar Plant Secures USD 33.6M USD

The International Finance Corporation (IFC) and Proparco have signed financing agreements for the 62 MW IPP50 Solar Plant, backed by approximately USD 33.6 million (EUR 30 million) and including resources mobilised by IFC from the Clean Technology Fund (CTF). The development will comprise four Solar Plants to be built in Natitingou, Djougou, Parakou and Bohicon, with a combined annual output of around 110 GWh.

AXIAN, in partnership with Caisse des Depots et Consignations du Benin (CDC Benin), is developing the IPP50 Solar Plant. The arrangement positions the developers to supply utility-scale generation under the IPP model, a first for Benin at this scale.

The scheme carries a total cost of approximately USD 50.4 million (EUR 45 million) and is expected to enter commercial operations in the first quarter of 2028. Electricity from the Solar Plant will be sold to state-owned Societe beninoise de production d'electricite (SBPE) under long-term power purchase agreements, supported by 20-year concessions granted by the Beninese government.

The IPP50 Solar Plant is projected to serve about 383,000 people and to avoid roughly 62,000 tonnes of CO2 emissions annually, while reducing the countrys dependence on imported power. IFC mobilised CTF resources as part of the package, consistent with the funds mandate to support low-carbon technologies in developing countries.