People
c. 227,690 people are expected to experience improved quality of service, with c. 111,800 of them being women.
| Investee Company | PFO Energies (PFO Africa) |
| Sector | Power and Energy |
| Country | Côte d’Ivoire |
| Total Project Cost | EUR 53m |
| PIDG Commitment |
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| Dates of PIDG involvement |
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To meet its goal of generating 42% of its energy from renewables by 2030, Côte d’Ivoire is addressing the energy access gap in its underserved northern regions and transitioning away from its heavy reliance on gas. The government’s new framework for solar Independent Power Producers (IPPs) is designed to unlock private investment to meet this challenge, with a focus on empowering local Ivorian companies.
PIDG, through EAAIF, provided a EUR 28 million investment in this 52MW solar plant near the major crossroads city of Ferkessédougou. This landmark transaction is not only the first solar IPP to announce financing in Côte d’Ivoire, but also the first to be developed by a home-grown business, PFO Energies.
c. 227,690 people are expected to experience improved quality of service, with c. 111,800 of them being women.
The project is expected to displace (or avoid) power from the gas and hydro dominated grid resulting in avoided emissions of c.41k tCO2e annually.
According to joint impact model estimates, this project is expected to indirectly create 3,167 jobs and add nearly USD 57m into the wider economy.
Côte d’Ivoire has no solar IPPs connected to the grid as of 2024. If successful, this project will help to diversify the generation mix away from thermal, helping to green the grid and make it more climate resilient via demonstration and replication effects.
