The largest facility of its kind in West Africa, the 46MW biomass power plant in Côte d’Ivoire, will be built using a €35 million senior financing agreement from EAIF. Biovea Energie will be the owner and operator when the plant is operating.
The €237 million project is a ground-breaking development in a dynamic energy industry. And is anticipated to reduce 4.5 million tons of CO2 emissions over its 25-year lifespan. The project is anticipated to have a tangible impact by being a novel strategy to help Côte d’Ivoire reach its target of producing 45% of its energy from renewable sources by 2030. A 25-year power purchase agreement has been granted to Biovea, to feed the Ivorian grid. The government’s goal to increase access to power by 2025 is reinforced by the new plant. Which also enhances energy security in rural areas with electrification rates as low as 38%
1.7 million people would benefit from the Abidjan – Biovea Energies project, which is located near Ayebo, 100 kilometers east of the capital. Up to 70% of the palm tree leaves and branches used to fuel the power plant will be provided by the 12,000 local out-growers in the area. By including local farmers in the supply chain, they may diversify their sources of income and enjoy more financial stability. Which is predicted to increase their incomes by 15%.
Benefits of the biomass power plant in Ivory Coast
The project will not only help the out-growers’ ability to continue earning an income in the long run, but it will also create job possibilities while it is being built. 500 employments will be created as a result of the transmission, transportation, and communications infrastructure development for the facility. As soon as Biovea Energie commissions the project, the local economy will gain an additional 1,000 jobs.
Maximizing impact is a critical objective for the partners of the project, which extends to circularity in the supply chain. The project represents the possibility for more regenerative economies. By encouraging the reuse of 520,000 tons of agricultural residue that would otherwise be dumped. After being processed to run the turbines in the biomass power plant, the residual’s ashes will be provided to farmers. To use as organic fertilizer for crops. This will allow farmers to adopt more sustainable farming practices that increase yields.