AfDB financing to expand Ivorian energy sector infrastructure
Financing for the Singrobo-Ahouaty 44 MW hydropower project in Côte d’Ivoire has reached financial close.
Image source: ESI Africa
Côte d’Ivoire: Financing for the Singrobo-Ahouaty 44 MW hydropower project in Côte d’Ivoire has reached financial close.
The African Development Bank Group will act as mandated lead arranger on this and other Ivorian energy sector infrastructure expansion projects.
The Singrobo-Ahouaty financing package is made up of $42.5 M (€40 M) from the AfDB, with additional financing from the Africa Finance Corporation, the German Investment Corporation (Deutsche Investitions-und Entwicklungsgesellschaft—DEG) and the Emerging Africa Infrastructure Fund (EAIF).
Developed by the AFC, project developer Themis and local sponsor Ivoire Hydro Energy Holding, Singrobo-Ahouaty is the first hydro-independent power producer project to be developed by a local sponsor in Côte d’Ivoire.
Paromita Chatterjee, an investment director at EAIF’s managers, Ninety-One, noted that the new facility being built at Singrobo is Côte d’Ivoire’s first hydroelectric development by an independent power producer.
“The project has seen EAIF and the Private Infrastructure Development Group deliver on three core objectives: mobilising private capital, enabling economic development and contributing to increasing Africa’s stock of renewable energy infrastructure,” said Chatterjee.
Source: ESI Africa
#AfDB#Cote d’Ivoire#funding#investment#renewable energy#Singrobo-Ahouaty 44 MW hydropower project