SolarX Secures $17.4 Million to Expand C&I Solar in West Africa

SolarX has received a $17.4 million loan from French energy investor Afrigeen to accelerate the deployment of solar power for commercial and industrial (C&I) clients across West Africa. 

The financing is structured in two tranches, short-term and long-term allowing SolarX to refinance existing assets while funding new projects in Côte d’Ivoire, Senegal, Mali, and Burkina Faso.

This funding comes at a moment when West Africa’s energy sector is under pressure. National grids remain unreliable, fossil fuel costs are rising, and businesses face frequent outages that disrupt operations. 

For companies, dependable electricity is critical to survival. SolarX’s expansion addresses this gap directly, providing C&I clients with a viable alternative to grid dependency.

The C&I solar market in Africa has grown sharply in recent years, not as a trend, but as a response to tangible, systemic issues. Kenya, for example, has doubled its captive power capacity in five years, now exceeding 600 MW. 

South Africa is seeing large-scale wheeling projects emerge, enabling businesses to purchase electricity from independent producers. In West Africa, Nigeria and Ghana are leading adoption, driven by both regulatory reforms and the urgent need to reduce reliance on volatile national grids.

SolarX’s approach is straightforward: build medium-scale solar plants close to industrial clusters, sell power directly to businesses, and maintain operations without interruptions. 

Unlike sprawling utility projects, these C&I systems are measured by reliability, cost savings, and speed of deployment. For Afrigeen, the investment is a calculated bet on a sector defined by necessity rather than hype.

The broader implications of this financing extend beyond a single company. Every megawatt of solar capacity installed for commercial use reduces pressure on national grids. Companies that adopt these systems are shaping the energy market’s future by creating decentralized supply points that challenge the monopoly of conventional grids.

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West Africa’s energy demand is growing faster than infrastructure can keep up. Without intervention, businesses will continue to face disruptions that stunt growth. Funding like SolarX’s loan is a response to an urgent structural problem. 

Each new solar plant shifts the region closer to self-sufficiency for commercial power and demonstrates that viable alternatives exist, even where government-led grid expansion lags.

SolarX and Afrigeen are solving a practical, high-stakes problem. For companies in West Africa, reliable electricity is a requirement. This loan, these plants, this strategy, they are a clear answer to that demand.