Proparco, FMO and Société Générale finance biomass-fired power project in Cote d'Ivoire
Proparco (lead arranger), FMO and Société Générale allocates to SIFCA a EUR 90M loan to finance the agricultural investment of developing a biomass power plant producing electricity from palm waste. The project will generate low-carbon electricity.
SIFCA operates in Côte d’Ivoire, Ghana, Liberia, Nigeria and Senegal in West Africa. The company sources its raw materials from over 110,000 small planters.
It is projected that over over the next 5 years, this project will create over 180,000 direct and indirect jobs in the said countries. The endeavor will also include training to assist farmers in good agricultural practices.
Due to the financing, SIFCA's activities will affect the economy thus lowering the prices of basic food commodities in the region. This will also lead to creation of roads, schools, clinics, and other facilities.
Country updates
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October 11, 2018
Eiffage wins contract to design and build 44 MW hydropower plant in Côte d’Ivoire
Eiffage has announced that it has been awarded a turnkey design-and-build contract for the Singrobo-Ahouaty hydropower plant by concessionaire Ivoire Hydro Energy. Eiffage's contract, r...
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July 04, 2018
USTDA awards grant for EfW project in Cote d'Ivoire
The USTDA has agreed to provide a US$996,238 grant for Société des Energies Nouvelles (SODEN), an Ivorian energy company, to support the development of a 60 to 70-megawatt (MW)...
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February 28, 2018
Total aims to make a final investment decision on the project this year
Total aims to make a final investment decision on the project this year. Vice president of negotiations at Total Gas & Power UK, Jean-Pierre Mateille, has said that Total is ready to start the project as soon as the Côte d'Ivoire government gives the green light
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January 10, 2018
Burkina Faso, Mali and Ghana Ministers of Energy to join TOTAL, CI-GNL, RLSF, APUA, ANARÉ and WAGPA at the Regional Energy Co-operation Summit in Côte d’Ivoire this January
With confirmed participation of H.E Honourable Malick Alhousseini, H.E Honourable Professor Alfa Oumar Dissa, Ghana’s Ministry of Energy, Autorité Nationale de Régulation du Secteu...
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December 20, 2017
Emerging Africa Infrastructure Fund secures US$100 million loan from AfDB
In a bid to reduce the huge infrastructure financing gap in Sub-Saharan Africa, the African Development Bank has approved US$100 million to The Emerging Africa Infrastructure Fund (EAIF), a public pri...
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