AXIAN Energy, Benin’s Caisse des Dépôts et Consignations, the International Finance Corporation (IFC) and Proparco signed €30 million in financing agreements in Cotonou on Thursday, October 29, 2026, for the IPP50 solar programme. The financing supports four planned photovoltaic plants with a combined investment cost of €45 million.
The agreements advance a project unveiled in 2025 by AXIAN Energy and its Beninese partner Sika Capital. The plants are planned for Natitingou and Djougou in the north, as well as Parakou and Bohicon. Their combined capacity is expected to reach 62 megawatts peak (MWp), equivalent to 50 megawatts in alternating-current capacity in IFC’s project documentation.
The financing structure brings IFC and Proparco together with the project’s private and Beninese sponsors. IFC is also drawing on resources from the Clean Technology Fund. The project’s long-term revenue model centres on selling the electricity to state-owned Société béninoise de production d’électricité (SBPE) under 20-year power purchase agreements.
Four locations, with operation targeted for 2028
Natitingou and Djougou are each designed for 10 MW of alternating-current capacity, while Parakou and Bohicon will each have 15 MW. Once operational, the four sites are expected to generate about 110 gigawatt-hours a year, enough to serve an estimated 383,000 people under the figures released alongside the financing announcement.
The partners are targeting commercial operation in the first quarter of 2028. The programme forms part of Benin’s efforts to expand domestic renewable power production and diversify supply as the country seeks to reduce its reliance on electricity imports.