The Emerging Africa Infrastructure Fund (EAIF) has officially broke ground for a 46MW biomass power station in Ayebo, Côte D’Ivoire
The plant will bring clean power and help to diversify the energy mix of the region. EAIF provided a EU€35mn (approx. US$39mn) senior loan facility to help develop the facility – the largest of its kind in West Africa. Proparco, a subsidiary of the French Development Agency, has also made financial commitments to bring the plant to operation, alongside Private Infrastructure Development Group (PIDG).
The plant, which will be owned and operated by Biovea Energie, is expected to cut 4.5mn tonnes of CO2 emissions and will be a frontrunner in the country’s bid to generate 45% of energy from renewable sources by 2030.
Biovea has been awarded a 25-year power purchase agreement to supply the country’s grid, a move that will help improve energy security in rural areas. Around 1.7 million people are expected to benefit from the project, including local out-growers who will supply up to 70% of the palm tree leaves and branches the facility requires as fuel. In addition, the construction phase will generate around 500 employment opportunities with a further 1,000 roles created for the local economy once the project is commissioned.
Biovea Energie’s CFO, Franck Koblavi, commented, “We are delighted to close the deal as it has been highly anticipated and moves us closer to evolving the country’s energy mix and progressing an ambitious but attainable sustainability agenda. Working with best-in-class partners has ensured deep deliberation to other aspects of creating impact and will ensure quality service delivery from investment to energy production.”