Announced by CI-Energies’ Director General, Noumory Sidibé on 15 December, construction of the project cost an estimated $42.4 million and will result in the deployment of clean electricity to approximately 30,000 households while mitigating an estimated 27,000 tons of CO2 and leading to the development of 300 jobs in the region.
“After having experimented fossil fuels and hydroelectricity, Ivory Coast, which is rich in renewable energy potential, is about to commission its first solar power plant, marking its intention to vary its energy mix as much as possible,” stated Sidibé during the plant’s inauguration ceremony, adding, “Resolved to position itself as West Africa’s energy hub, Ivory Coast has made significant investments in recent years. To date, nearly 7,000 projects are underway.”
The Boundiali Solar Power Station was co-funded by a concessional loan of $28.6 million from German investment and development bank, KFW, and a $10.3 million grant from the EU, with the Government of Ivory Coast having committed the remaining $3.5 million.
With the financing agreement having been signed in 2018, the solar project comes as part of the G20 Compact in Africa Program, an initiated launched in March 2017 to promote private investment and the development of renewable energy in Africa.
Under the country’s National Renewable Energy Action Plan, the Government of Ivory Coast has set a target of expanding its electricity production capacity and increasing renewable energy in its energy mix to 42% by 2030.