EDF, Meridiam, and Biokala (a subsidiary of the SIFCA Group), through their joint venture company BIOVEA Energie, signed today a concession contract with the Côte d’Ivoire Government. The contract covers the design, funding, construction, and operation of a EUR200 million (US$222 million) 46 MW biomass power plant for 25 years.

This major milestone should lead to the launch of construction works mid-2020 and to the commissioning of the plant mid-2023. The plant located in Aboisso, 100 km to the east of Abidjan, will be the largest plant in West Africa fuelled with agricultural waste, generating enough electricity to supply 1.7 million people all year long. EDF, Meridiam, and SIFCA respectively hold 40%, 36% and 24% shares in BIOVEA Energie.

This project falls within the framework of the Côte d’Ivoire National Renewable Energy Action Plan for 2014-2030, with the aim of achieving a 42%-share of renewable energies in the energy mix by the year 2030. The purpose of this project is to support the Côte d’Ivoire agro-industrial sector and contribute to the aims set by the country at the time of the COP21. Throughout the duration of the concession contract, this biomass power plant will enable the Côte d’Ivoire to reduce its carbon dioxide emissions by more than 4.5 million tonnes. At the end of the concession, the plant will become the property of the Côte d’Ivoire State.

Plant construction will create at least 500 local jobs. During the plant’s operating lifetime, more than 1,000 equivalent full-time local jobs will be directly created, with significant economic effects and the creation of numerous stable indirect jobs.

The investment funding is ensured by the members of the consortium and financial partners, including the French Development Agency with its subsidiary Proparco and the Emerging Africa Infrastructure Fund.