The Dutch development bank FMO has committed to supplying up to €55.5 million in long-term funding for the 50 MWp Kong solar power plant in northern Côte d’Ivoire.
This financial deal was finalized with Kong Solaire SAS, a venture supported by Africa Via, AXIAN, and the Private Infrastructure Development Group (PIDG) through its subsidiary, InfraCo. FMO will cover the entire long-term financing, structured over a 20-year period.
Solar Initiative to Serve 240,000 Residents
Positioned near Kong, the solar facility is projected to produce around 96 GWh of electricity each year. It aims to provide power for roughly 240,000 individuals while reducing carbon dioxide emissions by approximately 54,000 tonnes annually.
The generated electricity will be purchased by CI-ENERGIES under a 25-year Power Purchase Agreement (PPA). Construction has started, with completion expected by 2028 after an estimated 18-month building phase.
Private Sector Fuels Renewable Energy Progress
Kong Solaire SAS is owned 49% by InfraCo and 51% by Africa Via, an Ivorian renewable energy firm. AXIAN holds a 55% share in Africa Via, with the remaining 45% held by its founders, giving AXIAN an indirect 28% stake in Kong Solaire.
This initiative stands as one of Côte d’Ivoire’s pioneering private utility-scale solar projects, aligning with the nation’s goal to achieve a 45% renewable energy share by 2030.
“We are proud to support Kong Solaire, one of Côte d’Ivoire’s first privately developed utility-scale solar projects,” said Marnix Monsfort, Director of Energy at FMO. “As FMO’s second solar energy investment in the country, this financing reinforces our continued commitment to providing long-term capital needed to accelerate the country’s energy transition and mobilise further private investment in the sector.”
Minkaila Salami, CEO of Africa Via, remarked, “Seeing this project reach the financing milestone is a source of pride for the whole Africa Via team, which has carried it from the very beginning.”
Benjamin Memmi, CEO of AXIAN Group’s Energy division, noted the project’s role in enhancing Côte d’Ivoire’s energy diversity and meeting rising demand. “With an installed capacity of 50MWp, the project will help diversify the national energy mix and meet growing electricity demand with clean, competitive power,” he said.
Omar Jabri, PIDG’s Head of Business Development Africa at InfraCo, highlighted the agreement’s significance. “This milestone reflects PIDG’s commitment to mobilising private investment and delivering transformative infrastructure that accelerates the energy transition and creates lasting impact for communities and economies,” Jabri said.
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