Benin secures financing for first solar IPP projects

Pan-African conglomerate Axian has entered into a financing agreement for the development of four solar projects with a combined capacity of 62 MW. The €30 million ($33.5 million) financing package is provided by the International Finance Corporation and Proparco, the private sector financing arm of French public development bank Agence Française de Développement. IFC is also mobilizing resources from the Clean Technology Fund, an international fund dedicated to financing clean technologies in developing countries. The financing goes toward the IPP50 project, which is billed as Benin's first ...

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