Axian Energy is a group working on establishing renewable energy throughout Africa. In a change of direction in their strategy, they changed their focus from oil and gas dispensation to renewable energies in 2017. This is especially strategic as Africa will be one of the hardest hit areas by the effects of the changing climate, particularly those in poverty-stricken areas. At the beginning of this year, AXIAN Energy announced that it had received a $30 million pledge from the Emerging Africa Infrastructure Fund (EAIF), an affiliate of the Private Infrastructure Development Group. They aim to use this to launch more than 460 Megawatts of “utility-scale renewable energy generation capacity” across Africa in the next 10 years.

Africa’s Energy Crisis

The percentage of people in Africa with access to electricity is the lowest in the world at just more than 40%. Energy consumption per capita in Sub-Saharan Africa, excluding South Africa, is 180 kWh compared to 6500 kWh per capita in Europe and 13,000 kWh per capita in the U.S. This crisis has been exacerbated by recent wars and the COVID-19 pandemic. Currently, more than 25 million African people live without access to electricity. The International Energy Agency predicts that demand in Africa will grow rapidly by a third between 2020 and 2030. This means that the crisis must be faced with efficient and sustainable solutions, which AXIAN Energy Group is proposing.

Renewable Energy

The new funding to the AXIAN group will allow them to access rural areas with “limited power access.” The CEO of the AXIAN Energy group, Benjamin Memmin, expressed that this “marks a pivotal moment in our journey toward sustainable development and energy inclusion across Africa.” In an interview with IT News Africa, he expressed that this initiative will “bolster our unwavering dedication to delivering clean and accessible power to communities throughout the continent.” This includes greenfield solar projects, akin to the Burkina Faso PIDG project in which their first ever solar greenfield was implemented, allowing them to produce sustainable power independently.

Specifically, there is heavy investment in Madagascar, as it has some of the lowest access to electricity rates in the world; more than 18 million people are without access. Therefore, the boost in investment in renewable energy will allow for a sustainable boost to electrification rates. Furthermore, the funding will give households stable electricity, improving living standards and employment rates, which will boost economic activity across the continent. The focus on renewable energy also recognizes the importance of the global energy demands alongside addressing environmental concerns.

The AXIAN Energy group aims to provide electricity to millions, enhance economic markets, raise the standard of living and position Africa as an innovator in the sustainable power initiative. A Ninety One director, Tidiane Doucoure, argued in Africa Business that stable electrification will boost investment in African nations, as it will “de-risk projects,” making them more attractive to additional investment and improving supply reliability in line with international standards.” Therefore, AXIAN Energy certainly has the potential to transform Africa.

– Beth Keith
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