Axian Group, the pan-African conglomerate led by Malagasy billionaire Hassanein Hiridjee, has signed a Power Purchase Agreement (PPA) for the development of the 200 MW Kudu solar plant in Zambia.
The agreement, executed alongside Africa GreenCo, represents the largest solar energy project undertaken by Axian in the Zambian market to date.
The project is designed to increase renewable energy capacity within the national grid, supporting Zambia’s broader efforts to diversify its power sources and improve energy security.
Axian, which has built a significant footprint in telecommunications and financial services across Africa, is increasingly expanding its operations into the energy and infrastructure sectors.
The group’s move into large-scale solar power reflects a strategic shift to address the continent’s growing demand for reliable, sustainable electricity.
Hassanein Hiridjee has steered the Axian Group through several rounds of diversification, positioning the company as a multi-sectoral player in key African markets.
The Kudu solar plant is expected to play a vital role in stabilising the local energy supply, particularly during periods of low rainfall that affect other power sources.
Diversifying Zambia’s Energy Mix
The development of the Kudu solar plant comes at a critical time for Zambia’s energy sector. The country has historically relied heavily on hydroelectric power to meet its electricity needs.
This heavy dependence on hydropower has left the national grid vulnerable to climate-induced changes, specifically the increasingly frequent and severe droughts in the Southern African region.
Low water levels in key hydroelectric dams have previously led to significant power shortages, impacting both domestic consumers and the industrial sector.
By integrating 200 MW of solar capacity, the Kudu project provides a necessary counter-balance to the seasonal fluctuations of hydroelectric generation.
Solar energy offers a more predictable output during the dry seasons when water levels are at their lowest, helping to mitigate the risk of widespread blackouts.
Africa GreenCo, a specialist in renewable energy procurement and aggregation, will facilitate the delivery of this power, acting as a bridge between independent power producers and large-scale energy consumers.
The scale of the Axian investment highlights the growing commercial viability of large-scale renewable projects in Sub-Saharan Africa, even amidst complex regulatory environments.
For Zambia, the transition toward a more diverse energy portfolio is essential for maintaining industrial productivity, particularly within the mining sector which is a cornerstone of the national economy.
Consistent power supply is required to support the high-energy demands of copper mining and processing operations, which are sensitive to grid instability.
The Kudu solar plant is also expected to contribute to Zambia’s commitments to reduce carbon emissions and meet international climate targets.
As renewable energy costs continue to decline globally, the integration of solar technology into the Zambian grid becomes an increasingly attractive proposition for private investors.
The successful execution of this project will likely serve as a template for further private-sector-led energy infrastructure developments across the SADC region.
Axian’s involvement underscores the capacity of pan-African conglomerates to mobilise the capital and technical expertise required for large-scale utility projects.
Following the signing of the PPA, the project will move into the next stages of development, including technical implementation and the commencement of construction activities.
The timeline for the full commissioning of the Kudu solar plant remains subject to final regulatory approvals and site preparation milestones.
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