Fast view
- The Emerging Africa and Asia Infrastructure Fund (EAAIF) provided a €35 million senior loan facility to develop a 46MW biomass power plant in Côte d’Ivoire.
- The project will advance the Ivorian energy sector’s net-zero pathway.
| Sector: | Energy |
| Total commitment: | €237 million total, EAAIF commitment €35 million |
| SDGs: | 
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Background
The Emerging Africa and Asia Infrastructure Fund (EAAIF) provided a €35 million senior loan facility to develop a 46MW biomass power plant in Côte d’Ivoire, the largest facility in West Africa. Biovea Energie will own and operate the plant once it reaches the operational phase. Biovea, owned by EDF International, Meridiam and SIFCA, has been awarded a 25-year power purchase agreement to supply the Ivorian grid.
Opportunity
The loan will advance the Ivorian energy sector’s net-zero pathway and bring a first-of-its-kind project to a financial close, representing a breakthrough development in the dynamic energy sector. The project signifies an innovative approach to achieving Côte d’Ivoire’s goal of generating 45% of its energy from renewable resources by 2030.
Contribution and impact
The country’s energy market serves as an essential exporter of electricity to six of its neighbouring countries. The biomass plant will be the largest in West Africa to be fueled by agricultural waste, generating 336GWh of clean electricity a year - enough to provide power to 1.7 million people all year round. The project is expected to cut 4.5 million tonnes of CO2 emissions over its 25-year lifetime.