World Bank’s IFC signs agreement with Côte d’Ivoire to develop clean energy
An agreement has been signed recently between the government of Côte d’Ivoire and the World Bank Group to help the African country 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.
The World Bank Group has signed the agreement with the government of Côte d’Ivoire through its scaling its solar program. A member of the World Bank Group, International Finance Corporation, signed the agreement to assist Côte d’Ivoire develop 60 megawatts of grid-connected solar power through two public-private partnership (PPP) projects. This is expected to power thousands of homes and businesses in the country.
“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,” the Côte d’Ivoire’s Minister of Petroleum, Energy and Renewable Energy, Abdourahmane Cissé opined.
“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 Monetary zone,” International Finance Corporation (IFC) Regional Director for West and Central Africa, Aliou Maiga said.
Côte d’Ivoire joins Uzbekista, Togo, Zambia, Madagascar and Senegal as members of the Scaling Solar program that provides a package of transaction structuring advice, project documents, risk management products, finance, and insurance to support solar energy projects. According to the agreement, Scaling Solar will support the development, tendering, and financing of two utility project in Côte d’Ivoire.
Source: devdiscourse
