• PIDG invests €4.3 million in Afreenergy Solar to expand commercial and industrial solar solutions in Senegal.

• The project targets 30 MW of solar capacity and 10 MWh of battery storage.

• Businesses could cut energy costs by up to 30% amid persistent grid constraints.

The Private Infrastructure Development Group (PIDG) supports the deployment of solar solutions for commercial and industrial clients in Senegal. The infrastructure financing group announced on Wednesday, March 25, that it invested €4.3 million in Afreenergy Solar at the Future of Energy Summit in Amsterdam.

PIDG’s commercial development head for Africa, Omar Jabri, said: “We are delighted to collaborate with Afreenergy Solar to expand access to reliable and clean energy for commercial and industrial clients in Senegal. PIDG commits to scaling infrastructure financing to accelerate climate action and deliver sustainable development outcomes.”

PIDG executed the investment through InfraCo. The funding supports Afreenergy Solar in developing 30 MW of solar capacity and 10 MWh of battery storage.

The model combines on-site installations with lease-to-own structures and power purchase agreements. Moreover, the platform aggregates multiple sites to reduce per-installation costs.

Afreenergy Solar targets agro-industry, logistics, and other energy-intensive sectors. The company states that its solutions can reduce energy costs for commercial and industrial businesses by up to 30%.

The investment extends Afreenergy Solar’s expansion in Senegal. In July 2024, the independent power producer acquired from GreenYellow a portfolio of three rooftop solar plants with a combined capacity of 2.6 MWp. The assets support self-consumption for commercial and industrial clients.

Many companies across sub-Saharan Africa continue to face electricity supply challenges. According to Enterprise Surveys by the World Bank, 39% of firms identify electricity as a major constraint to their operations.

As a result, businesses frequently rely on diesel generators to secure production. However, solar solutions with storage provide an alternative that reduces costs and limits exposure to fuel price volatility.

This article was initially published in French by Abdoullah Diop

Adapted in English by Ange J.A de Berry Quenum