Benin secures 30 million euros for IPP50 solar project

AXIAN Energy, the Caisse des Dépôts et Consignations du Bénin, the International Finance Corporation (IFC), and Proparco have signed financing agreements totaling 30 million euros for the IPP50 solar project. This initiative involves the construction and operation of four photovoltaic power plants located in Natitingou, Djougou, Parakou, and Bohicon.

The project is expected to reach a cumulative capacity of 62 megawatt-peak, with an estimated annual production of 110 gigawatt-hours. Once operational, the plants are projected to provide electricity to approximately 383,000 people and reduce annual CO2 emissions by nearly 62,000 tonnes. The electricity produced will be sold to the Société béninoise de production d’électricité (SBPE) through long-term purchase agreements.

Scheduled for commercial commissioning in the first quarter of 2028, the project operates under a twenty-year concession. IPP50 represents Benin’s first independent solar power production project and is part of a broader national energy pact aimed at increasing renewable energy in the national mix and expanding electricity access to nearly one million additional households by 2030.