AXIAN Energy has secured a $60 million financing package from Mauritius-based lender MCB as the renewable energy developer seeks to accelerate expansion across Africa amid rising demand for power infrastructure and clean-energy investment on the continent.
The facility includes a $40 million revolving credit line with a three-year maturity and an extension option, alongside $20 million in unfunded instruments, according to a statement released Monday. The structure is designed to give AXIAN Energy greater flexibility in deploying capital and pursuing new development opportunities across its target markets.
The financing comes as AXIAN Energy has rapidly expanded its renewable energy ambitions over the past two years, building a pipeline of solar projects in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar and Burkina Faso.
The company currently operates a portfolio of 350 megawatts of installed renewable generation capacity, supported by 77 megawatt-hours of energy storage capacity, underscoring broader momentum in Africa’s energy transition efforts.
The transaction also deepens a long-standing relationship between AXIAN Group and MCB, both of which have increasingly positioned themselves as pan-African players focused on infrastructure and economic development projects.
For AXIAN Energy, access to a revolving facility could provide quicker access to funding for project development in a sector where execution timelines and capital requirements often vary significantly across markets.
“This transaction marks a key milestone in AXIAN Energy’s growth trajectory,” Benjamin Memmi, chief executive officer of AXIAN Energy, said in the statement. “It provides us with the financial capacity to sustain the momentum we have built over the past two years.”
MCB said it structured the financing to align with AXIAN’s longer-term renewable energy strategy and broader expansion goals.
“We are proud to support AXIAN Energy in structuring this facility,” Mathieu Delteil, MCB’s global head of structured finance, said in the statement. “This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth.”
Africa remains one of the world’s most under-electrified regions despite rapidly growing populations and energy demand, with governments and private developers increasingly turning to renewable generation and storage projects to address infrastructure gaps while meeting climate targets.
The agreement reflects a broader trend of regional lenders and investors stepping up financing for energy projects as developers seek capital to scale operations across multiple African markets.