Bird & Bird Advised Afrigreen on a €15m Financing for SolarX
Bird & Bird Advised Afrigreen on a €15m Financing for SolarX
International law firm Bird & Bird has advised Afrigreen Debt Impact Fund, managed by Rgreen Invest and advised by Echosys Invest, on the structuring of a €15 million senior secured financing facility for SolarX, a pan-African group specialising in the design, installation, financing and maintenance of renewable energy solutions for businesses.
This transaction, combining two credit lines, one short term and one long term, aims to refinance SolarX's operational assets and build new power plants, in order to accelerate the deployment of solar solutions for the Commercial & Industrial (C&I) segment in West Africa.
The company, founded in 2020 by Karim Ghammaché, intends to further develop its C&I solutions in West Africa, where it already operates 23 projects across Côte d'Ivoire, Senegal, Mali and Burkina Faso. These business-focused solutions are designed to reduce energy costs and carbon footprint and improve. Ultimately, these projects will avoid the emission of nearly 2,800 tonnes of CO2 and the use of more than 227,000 litres of fuel each year. Thanks to this financing and the growing regional demand, SolarX aims to increase its installed capacity fivefold over a three-year horizon on the continent.
This transaction is the seventh deal since the launch of Afrigreen, an impact fund closed in February 2025 at €100 million and dedicated to renewable energy projects in Africa. Managed by RGreen Invest and advised by Echosys Invest, the fund targets projects ranging from 100 kW to 15 MW in solar, storage and hybrid sectors, with a focus on sub-Saharan Africa.
The Bird & Bird advised Afrigreen Debt Impact Fund with a team comprising Boris Martor (Partner), Sébastien Hoff (Counsel), and Alexandra Esmel (Associate) and Kenza Fradji (Associate).
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