GreenYellow sells stakes in 76-MWp African PV portfolio to Axian

Pan-African diversified group Axian has agreed to acquire the stakes of French renewable energy company GreenYellow in a 76-MWp portfolio of solar parks with 5 MWh of storage in Burkina Faso and Madagascar.

The acquisitions, financial details about which were not disclosed, are aligned with Axian’s efforts to enhance its investment in Africa’s renewable energy market. They will also support its goal of deploying 500 MW of renewable energy capacity across Africa over the next three years, the group said recently.

In Madagascar, Axian has clinched a deal to buy GreenYello’s minority stakes in joint ventures (JVs), including ones holding the 40-MWp Ambatolampy photovoltaic (PV) park which was hooked to the grid in 2022 and has 5 MWh of battery storage. The agreement also concerns stakes in four hybrid solar-storage plants totalling 6 MWp.

Meanwhile, in Burkina Faso, Axian will purchase GreenYellow’s 95% interest in a 30-MWp solar park located in the Nagreongo department of Oubritenga Province.

The divestments mirror GreenYellow’s strategy to rebalance its geographical exposure and accelerate its European operations, according to the statement.

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