MULTINATIONAL – "Axian Energy Green" (AFDB-P-Z1-F00-161)

Regions
  • Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Ivory Coast
  • Mauritius
  • Mozambique
  • Senegal
  • Sierra Leone
  • Tanzania
  • Zambia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • African Development Bank (AFDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
A
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Nov 7, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Axian Energy Green (AEG)
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Grant
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 5.06 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Grant Amount (USD)
$ 5.06 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Corporate Actor Documents
Primary Source

Original disclosure @ AFDB website

Updated in EWS Jan 3, 2025

Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the AfDB, Axian Energy, through Axian Energy Green (AEG), is advancing renewable energy with a project pipeline of 1,300 MW and a target of 500 MW operational capacity by 2025. AEG is involved in large-scale power, mini-grid, commercial and industrial projects across Africa. The African Development Bank (AfDB), through the Sustainable Energy Fund for Africa (SEFA), is providing AEG with a Project Preparation Financing Facility (PPFF) to finance AEG's portfolio of solar photovoltaic and battery energy storage system (BESS) projects in Côte d'Ivoire, Mauritius, Mozambique, Senegal, Sierra Leone, Tanzania and Zambia, including new projects and hydropower plant rehabilitation projects.

The Bank will actively support AEG through SEFA, with a repayable grant from MFPP, to assist in the development and preparation of AEG's projects in the renewable energy sub-sector. The aim of this collaboration is to build a strong pipeline of investment-ready projects, with the Bank providing its expertise to ensure that projects meet the required standards. The AfDB will oversee the project's progress, help structure it to ensure bankability, and maintain an advisory role throughout the preparation phase to attract additional private investment.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the AfDB, the AEG regional office, based in Madagascar, will implement all project activities (https://www.axian-group.com/en/business-clusters/axian-energy/).

Axian Group is a multinational company operating in the Africa region in the communications and energy sectors.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Axian Group Client Infrastructure

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

AfDB Team Leader:

Moeketsi Enos Thobela
Email: m.thobela@afdb.org

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.afdb.org/en/disclosure-and-access-to-information/request-for-documents. Under the AfDBÕs Disclosure and Access to Information policy, if you feel the Bank has omitted to publish information or your request for information is unreasonably denied, you can file an appeal at https://www.afdb.org/en/disclosure-and-access-to-information/appeals-process.

ACCOUNTABILITY MECHANISM OF AfDB

The Independent Review Mechanism (IRM), which is administered by the Compliance Review and Mediation Unit (CRMU), is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an African Development Bank (AfDB)-financed project. If you submit a complaint to the IRM, it may assist you by either seeking to address your problems by facilitating a dispute resolution dialogue between you and those implementing the project and/or investigating whether the AfDB complied with its policies to prevent environmental and social harms. You can submit a complaint electronically by emailing crmuinfo@afdb.org, b.kargougou@afdb.org, b.fall@afdb.org, and/or s.toure@afdb.org. You can learn more about the IRM and how to file a complaint at: https://www.afdb.org/en/independent-review-mechanism/

How it works

How it works