InfraCo Africa invests to develop a 50MWp solar plant in Côte d’Ivoire
4 July 2024
Abidjan, Côte d’Ivoire: On July 2, 2024, the project company Kong Solaire, jointly owned by InfraCo Africa (part of the Private Infrastructure Development Group - PIDG) and Ivorian developer Africa Via, signed a concession agreement with the Ministry of Mines, Petroleum, and Energy, the Ministry of Finance and Budget, and Côte d'Ivoire Energies to develop a 50 MWp solar power plant located in Kong in the northern region of the country under a BOOT (Build, Own, Operate, and Transfer) model. Kong Solaire will be one of the first solar energy projects constructed under this model in Côte d'Ivoire.
During the ceremony, the Minister of Mines, Petroleum, and Energy, Mr. Mamadou Sangafowa-Coulibaly, emphasized the importance of this project, which will create several hundred direct and indirect jobs while enabling Côte d'Ivoire to increase the share of renewables in its energy mix. Mr. Sangafowa-Coulibaly also noted that the electricity sector master plan for 2040 aims to triple electricity production capacity, increasing it from the current 2,907 MW to 8,600 MW. This master plan will ensure that the supply of electricity meets the rapidly growing needs of the economy and households.
InfraCo Africa’s Head of Business Development, Mr. Omar Jabri, said of the agreement, “We are delighted and pleased today to sign the concession agreement for the development and construction of the Kong solar power plant in partnership with the Ivorian state. The Kong Solaire project, with a capacity of 50 MWp and a total investment of 37 billion CFA francs, will provide more than 97 GWh of clean electricity each year to approximately 240,000 people. As a PIDG company, InfraCo Africa is committed, along with its partner Africa Via, to promoting the development of resilient infrastructure in Côte d'Ivoire and contributing to the achievement of national sustainable development goals, including reaching 45% renewable energy by 2030.”
The plant will be equipped with the latest solar panel technologies to maximise its electricity production. Connected to a transmission line and a substation located near the site, the plant will supply electricity to residential and commercial customers connected to the Côte d'Ivoire grid. The project aligns with the country's ambitious approach to energy independence while meeting national sustainable development goals (COP26).
Africa Via’s CEO, Mr. Minkaïla Salami, declared, “As the CEO of Africa Via, I am very proud of the work our company has accomplished over the years to achieve the signing of this concession agreement for our first 50 MWp photovoltaic project in Kong, in the Tchologo region of Côte d'Ivoire. We are delighted to co-develop this project with InfraCo Africa, with whom we share common ambitions to realise the implementation of projects that enable the sustainable development of Pan-African economies and directly benefit the most vulnerable populations.”
It is anticipated that Kong Solaire will demonstrate the viability of solar generation in Côte d’Ivoire and will negotiate documentation which can be replicated in the future, attracting private sector finance and expertise to further expand the country’s growing solar sector.
ENDS
Notes for Editor
In October 2021, Africa Via and EDF Renouvelables (“EDF-R”), a subsidiary of EDF Group, signed a joint development agreement to co-develop the project. The two companies co-developed Kong Solaire together until EDF’s exit in 2023.
The Government of Côte d’Ivoire is committed to diversifying the country’s energy mix, and increasing the role that renewables play, in order to reduce costs associated with importing natural gas, and to meet the country’s emissions targets under the Paris Agreement.
Electrification rates in Côte d’Ivoire stand at 71.1% of the population.
The country’s installed power generation capacity is largely derived from gas-fired thermal power plants, with the remainder dominated by hydro power.
With growing demand for energy, the government has engaged the Karpowership which has been supplying thermal power to meet 7.5% of the country’s needs since April 2022.
Private Infrastructure Development Group (PIDG): The Private Infrastructure Development Group (PIDG) is an innovative infrastructure project developer and investor which mobilises private investment in sustainable and inclusive infrastructure in sub-Saharan Africa and south and south-east Asia. PIDG investments promote socio-economic development within a just transition to net zero emissions, combat poverty and contribute to the Sustainable Development Goals (SDGs). PIDG delivers its ambition in line with its values of pioneering, partnership, safety, inclusivity, and urgency. PIDG offers Technical Assistance for upstream, early-stage activities and concessional capital; its project development arm – which includes InfraCo Africa and InfraCo Asia – invests in early-stage project development and project and corporate equity. PIDG credit solutions include EAIF (the Emerging Africa Infrastructure Fund), one of the first and more successful blended debt fund in low-income markets; GuarantCo, its guarantee arm that provides credit enhancement and local currency solutions to de-risk projects; and a growing portfolio of local credit enhancement facilities, which unlocks domestic institutional capital for infrastructure financing. Since 2002, PIDG has supported 233 infrastructure projects to financial close, which provided an estimated 228 million people with access to new or improved infrastructure. PIDG is funded by the governments of the United Kingdom, the Netherlands, Switzerland, Australia, Sweden, Global Affairs Canada, Germany, and the IFC. pidg.org
InfraCo Africa: InfraCo Africa is part of the Private Infrastructure Development Group (PIDG) and seeks to alleviate poverty by mobilising investment into sub-Saharan infrastructure projects. It does this by investing directly into early-stage projects and by providing development leadership. Through its investments arm, InfraCo Africa can also provide equity to close a financing gap and start construction or fund innovative solutions that need support to scale-up, to pilot new products or enter new markets. InfraCo Africa is funded by the governments of the United Kingdom (through FCDO), the Netherlands (through DGIS) and Switzerland (through SECO). To find out more visit: www.infracoafrica.com
Africa Via: Africa Via is an Ivorian company and the main sponsor of Kong Solaire SAS. The company was founded in 2013 and is fully owned by the Salami Family. Developing projects in several sectors, Africa Via launched its renewable energy activities in 2018. The company leverages its professional skills to develop and implement photovoltaic and hydroelectric projects. It is part of an "Economic Interest Grouping" that includes ATIS Industries and Ocean Solution Energie, which are involved in studies, advisory services for power infrastructure, and engineering in various economic sectors such as agriculture, water, mining, energy, and environment. Africa Via also benefits from the expertise of its foreign partners to enhance its knowledge and experience in project management and development in renewable energy production.
For more information contact:
Lorna McNae
Senior Communications Manager
InfraCo Africa
lmcnae@infracoafrica.com