Ivory Coast aims to increase its installed power capacity to 3.5 GW by 2025 and 8.6 GW by 2040. As part of this strategy, the country’s Ministry of Mines, Petroleum and Energy signed a memorandum of understanding (MoU) with renewable energy company Kong Solaire earlier this month to construct a 50 MW solar power plant in the Tchologo region.
This comes as the Ivorian government prioritizes infrastructure development to maintain the country’s high rate of economic growth. In 2021, Ivory Coast launched its National Development Plan 2021-2025, which calls for an investment of $20 billion towards energy infrastructure. Potential investment opportunities in Ivory Coast for project developers include power plant equipment and services, systems control equipment, gas-to-power technologies, renewable energy solutions, demand side management and transmission and distribution equipment, all of which will be showcased during this year’s MSGBC Oil, Gas & Power conference.
Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.msgbcoilgasandpower.com to secure your participation at the MSGBC Oil, Gas & Power 2024 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.
Ivory Coast’s Solar Revolution Gains Momentum
With an estimated daily direct normal irradiation of 3,510 Wh/m2, Ivory Coast is attracting interest from an array of renewable energy developers. Developed under a public-private partnership, the 37 billoin CFA Francs plant by Kong Solaire is set to commence operations in Q3 2026. The initiative follows the April 2024 inauguration of Ivory Coast’s first solar plant – and the largest in West Africa – in Boundiali. Ivory Coast currently has 15 solar projects totaling 650 MW currently under study or development, all slated to commence operations between 2025 and 2027.
In April this year, Ivory Coast announced the start of construction of the $63.5 million Ferke solar power plant in Sokoro, which will have an installed capacity of 52 MW. Set to commence operation by Q3 2025, the project stems from an agreement signed in January 2024 with renewable energy company PFO Africa and is supported by Germany and the EU.
Driving Multi-Sector Development
Boasting the third-largest electricity system in West Africa – with an installed capacity estimated at 2,907 MW and an electrification rate of 80% – Ivory Coast is well-positioned to leverage its existing electricity system to foster robust commercial opportunities for infrastructure development.
In October 2023, Ivory Coast’s Minister of Finance and Economy Adama Coulibaly and Dutch financial institution Invest International Director of the Public Sector Lara Muller signed a MoU to develop essential public infrastructure project in the country. The MoU supports the provision of approximately $327 million in grants and loans to finance the development of a broad range of impact areas including drinking water, urban mobility, agroforestry, coastal protection and healthcare.
A Burgeoning Oil Producer
In the hydrocarbons sector, Ivory Coast recently announced an update to phase 2 of its flagship Baleine oil and gas project. Global energy services firm Afrentra Infrastructure secured a contract with global energy major Eni last October for the redeployment of the Voyaheur Spirit floating, production, storage and offloading vessel and Nordic Brasilia shuttle tanker as part of a 15-year contract. With start-up for Beleine phase 2 anticipate for Q4 2024, Ivory Coast is poised to become a major oil producer in the region and a significant supplier to European markets.