Washington D.C., November 15, 2019 – The
World Bank Group, through its Scaling Solar program, and the Government
of Côte d’Ivoire have signed an agreement to help Côte d’Ivoire develop
its supply of affordable, reliable clean energy and reach its goal of generating
at least 42 percent of its power from renewable sources by 2030.
IFC, a member of the World Bank Group, signed the agreement with the Government
of Côte d’Ivoire to help the country, one of West Africa’s largest economies,
develop 60 megawatts of grid-connected solar power through two public-private
partnership (PPP) projects, which will power thousands of homes and businesses
in the country.
Côte d’Ivoire’s Minister of Petroleum, Energy and Renewable Energy, said,
“Developing and diversifying our energy supply is a top priority for Côte
d’Ivoire as we grow our economy and increase the number of countries to
which we export electricity. In accordance with our COP21 climate change
commitments, Scaling Solar will help us tap our abundant solar resources
and bring clean power to the people of Côte d’Ivoire, especially those
in rural areas.”
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 program will help
Côte 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
Under the agreement with Côte d’Ivoire, Scaling Solar will support the
development, tendering, and financing of two utility projects in the country,
which has West Africa’s third largest electrical system with an installed
generation capacity of 2,200 megawatts (MW).
The planned utility-scale solar photovoltaic installations will complement
other planned solar projects to help Côte d’Ivoire achieve its goal of
generating 400 megawatts of solar power by 2030, contributing to climate
Côte d’Ivoire joins Zambia, Senegal, Togo, Madagascar, and Uzbekistan
as members of the Scaling Solar program, which provides a package of transaction
structuring advice, project documents, risk management products, finance,
and insurance to support solar energy projects.
Scaling Solar is supported by USAID’s Power Africa, the Ministry of Foreign
Affairs of the Netherlands, the Ministry of Foreign Affairs of Denmark,
and the Infrastructure Development Collaboration Partnership Fund (DevCo).
For more information, please visit www.scalingsolar.org.
IFC—a sister organization of the World Bank and member of the World Bank
Group—is the largest global development institution focused on the private
sector in emerging markets. We work with more than 2,000 businesses worldwide,
using our capital, expertise, and influence to create markets and opportunities
where they are needed most. In fiscal year 2019, we delivered more than
$19 billion in long-term financing for developing countries, leveraging
the power of the private sector to end extreme poverty and boost shared
prosperity. For more information, visit www.ifc.org.