• AFRIGREEN, BGFIBank sign €28 million loan for Gabon solar plant
• Financing backs 30 MW phase with 8 MWh storage
• Project part of Vision Gabon 2030, 25-year PPA signed

AFRIGREEN Debt Impact Fund and BGFIBank said on Friday they had signed a €28 million loan agreement benefiting SOLEN SA. The loan will finance the first phase of the Plaine Ayémé solar power plant, located about 30 kilometers from Libreville, the Gabonese capital.

According to the announcement, the financing will support a 30 MW solar plant paired with 8 MWh of battery storage. AFRIGREEN describes the overall project as a 60 MW photovoltaic plant combined with 30 MWh of battery storage, to be developed in two phases under a 25-year power purchase agreement with the Gabonese state.

However, on its website, SOLEN states that it signed a power purchase agreement with the Société d'Énergie et d'Eau du Gabon (SEEG) for 120 MWac at a fixed price for 25 years. Separately, in November 2024, the Equitane Group, which owns SOLEN SA, announced the inauguration of the project, marking the commissioning of 11 MW of the planned 30 MW.

“As the first investment in Gabon and the first local syndicated facility, this project sets a new benchmark. We commend the remarkable work of our partners Equitane Group and SOLEN, as well as the strong commitment of the Gabonese authorities. We are grateful to BGFIBank for its partnership and look forward to supporting other transformative projects in the region,” said Ismael Django, senior investment director at RGREEN INVEST, which manages AFRIGREEN.

Described as the country’s first large-scale solar project to integrate storage, Plaine Ayémé forms part of the “Vision Gabon 2030” strategy. It has the backing of the Ministry of Universal Access to Water and Energy, the Ministry of Economy and SEEG, which is expected to purchase all the electricity generated.

Abdoullah Diop