Benin's first private solar plants just secured €30 million (about $34 million) — enough power for 383,000 people

Four towns in Benin — Natitingou, Djougou, Parakou and Bohicon — are getting the country's first privately developed solar plants, and the money is now signed. The International Finance Corporation and France's Proparco will lend €30 million (about $34 million) toward a total cost of €45 million (about $50 million), under agreements signed in Cotonou by AXIAN Energy and Benin's CDC Bénin. Together the plants will carry 62 megawatts of panels, feed 50 megawatts into the national grid and generate about 110 gigawatt-hours a year — enough electricity for roughly 383,000 people — while avoiding about 62,000 tonnes of carbon dioxide a year. The power will be sold to the state producer under 20-year agreements, with the first electricity due in early 2028, as Benin works toward 30% renewable power by 2030.

SDG 7 · Affordable and clean energy — Mechanism: funding & finance