Afreenergy Solar, a subsidiary of Independent Power Producer (IPP) Afreenergy, has announced the successful acquisition of a portfolio of solar assets in Senegal from GreenYellow, a leader in decentralized energy transition in France and abroad. This strategic move marks a significant milestone in Afreenergy Solar’s growth and ambition to become a leading independent producer of renewable energy in Africa.
As part of this acquisition, Afreenergy Solar has obtained all of GreenYellow’s shares in a portfolio of three operational rooftop solar power plants in Senegal. The portfolio boasts a total consolidated capacity of 2.6 MWp, designed to meet the electricity needs of leading commercial and industrial (C&I) customers through self-consumption. The environmental impact of this portfolio is substantial, with a reduction in CO2 emissions of over 2,000 tonnes per year and a cumulative reduction of more than 26,000 tonnes throughout the duration of the contracts.
“This acquisition strengthens our presence in Senegal, a strategic country with significant momentum towards renewable energy, particularly solar. It’s a trend that we want to support through partnerships with local players, to give as many people as possible access to clean, affordable energy,” explained Christian Cachat, CEO of Afreenergy Solar.
Robinson Ralazraki, General Manager of GreenYellow Africa, added, “We are pleased to transfer our solar assets to Afreenergy Solar, which will uphold our commitment to a sustainable energy transition and the promotion of renewable energy in Africa. This transaction aligns with GreenYellow’s overall strategy to geographically refocus on Europe. We are convinced that Afreenergy Solar will ambitiously pursue the operation and development of these solar power plants in Senegal.”
This acquisition complements Afreenergy’s growing portfolio of more than 320 MW of solar, storage, and hydro assets at various stages of development, construction, and operation in 12 African countries. Founded in 2019, Afreenergy was established as an IPP with a long-term vision and commitment to bridging the financing gap for clean energy access in Africa. Based in Mauritius, Afreenergy relies on a team of 15 professionals strategically distributed across engineering and technical offices in Madagascar, Dakar, Douala, Gauteng, Kigali, Kinshasa, and Nairobi.
Afreenergy has strong growth ambitions and has already received support from climate and impact-driven global investor TimeToAct Capital, along with a pool of European family offices. In the coming months, the company aims to advance the deployment of its portfolio and will increasingly seek acquisition opportunities for late-stage projects in West Africa—a traditionally underserved market—to consolidate its portfolio in key segments such as C&I for solar and “run-of-the-river” hydro assets.
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