Côte d’Ivoire secures financing for 50 MW solar power plant in Kong

A solar power project under construction in northern Côte d’Ivoire has secured a long-term financing agreement involving AXIAN, the Private Infrastructure Development Group (PIDG) and Dutch development bank FMO, in a move expected to support the country’s renewable energy expansion.

The Kong Solaire project has secured financing of around €50 million, equivalent to approximately 31.8 billion CFA francs, according to Sika Finance. FMO’s financing commitment can reach €55.5 million, according to project information.

The plant, located in Kong in northern Côte d’Ivoire, is designed to have an installed capacity of 50 megawatt-peak (MWp) and is expected to generate around 96 gigawatt-hours of electricity annually. Operations are planned to begin in 2028.

Africa Via, the project developer, is working with infrastructure investors to deliver the facility. PIDG’s InfraCo unit holds a 49% stake in Kong Solaire, while AXIAN has an indirect interest through its investment in Africa Via. FMO is providing long-term financing.

The electricity generated is expected to be sold to CI-ENERGIES under a 25-year power purchase agreement, providing a long-term buyer for the plant’s output.

Project partners estimate that the facility could supply electricity equivalent to the needs of about 240,000 people and prevent approximately 54,000 tonnes of carbon dioxide emissions each year. Those figures are projections and will depend on the plant’s actual performance once operational.

The project comes as Côte d’Ivoire seeks to diversify its electricity mix and increase the contribution of renewable energy. The country currently relies significantly on natural gas and hydropower for electricity generation.

The plant’s planned 2028 launch remains a target, with construction and project implementation still under way.