The government of Cote d’Ivoire has signed an agreement with the International Finance Corporation (IFC) to assist the African country in the development, tendering and financing of two energy PPPs.
Under the signed agreement, the IFC will provide transaction structuring advice, project documents, risk management products, finance and insurance support to develop two grid-connected solar power PPPs with a capacity of 60MW.
Aliou Maiga, IFC Regional Director for West and Central Africa, said: “Scaling Solar has set a new standard for developing solar power in Africa while consistently reducing its costs. The World Bank Group programme will help Cote d’Ivoire diversify its sources of power generation, opening up new markets for clean energy production and distribution, and bringing clean, affordable energy to the largest economy in the West Africa Economic and Monetary zone”.
Cote d’Ivoire joins Zambia, Senegal, Togo, Madagascar and Uzbekistan as members of Scaling Solar, a World Bank initiative to help emerging economies crowd in private investment for grid-connected solar projects.
As previously reported, Uzbekistan joined Scaling Solar in June 2019.