Côte d’Ivoire: Emerging Africa Infrastructure Fund breaks ground on biomass power station
The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, announced that it had officially broke ground on the 46MW biomass power station in Ayebo, Côte d’Ivoire, bringing clean power and a more diverse energy mix to the region.
EAIF has provided a €35 million senior loan facility to develop a 46MW biomass power plant in Côte d’Ivoire, the largest facility of its kind in West Africa. Biovea Energie will own and operate the plant when operational.
Biovea – owned by EDF International, Meridiam and SIFCA – has been awarded a 25-year power purchase agreement to supply the Ivorian grid. The new plant reinforces the government’s priority to expand access to electricity by 2025 – improving energy security in rural areas with an electrification rate as low as 38%.
Commenting on the transaction, Olivia Carballo from Ninety One, fund manager of EAIF said, ”As such a crucial energy market to one of the continent’s most important production hubs, impacts of a greener economy extend beyond the borders of Côte d’Ivoire. It is emblematic of the many resources we can leverage to accelerate growth across Africa and do so inclusively while contributing to the sustainability of thousands of livelihoods in the area.”
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