NEWS

The Private Infrastructure Development Group (PIDG) has committed EUR 4.3m to scale Afreenergy Solar, a specialised platform developing clean energy solutions for commercial and industrial (C&I) customers in Senegal, with the ambition to expand over time into selected markets in West and Central Africa. Announced today at the Future of Energy Summit in Amsterdam, PIDG’s commitment was made through its project development solution, InfraCo.

The project will see Afreenergy Solar scale its operations to deliver up to 30MW of solar energy and up to 10MWh of battery energy storage systems (BESS). Delivered in two phases, the company will engage clients across a number of sectors – including agro-industry, logistics and other energy-intensive industrial segments – aggregating multiple sites to reduce per-site costs. Operated on a lease-to-own basis, or through offtake agreements, Afreenergy Solar’s on-site solutions increase the reliability of power, and it is anticipated that customers’ energy costs will be up to 30 per cent cheaper than the national grid.

Commercial and industrial energy users in Senegal still rely significantly on oil and other fossil-fuel-based sources; Afreenergy Solar’s model is designed to help decouple business growth from fossil fuel dependence. The transaction will also support the Government of Senegal’s objective to increasing the share of renewable energy in the country’s energy mix to 40 per cent by 2030 as part of its EUR 2.5bn Just Energy Transition Partnership (JETP) agreement signed with G7 members in 2024.

Once operating at scale, Afreenergy Solar is expected to catalyse further private capital flows into its C&I model, enabling the company to expand its footprint across West and Central Africa.