EDF: financing of biomass power plant in Côte d'Ivoire

(CercleFinance.com) - Biovea Energie, a company comprising EDF (40%), Meridiam (36%) and SIFCA (24%), has signed agreements with Proparco and Emerging Africa Infrastructure Fund (EAIF) to finance a 46 MW biomass power plant project in Côte d'Ivoire, EDF announced this morning.


Under the terms of the agreements, Proparco and EAIF will provide financing of 165 million euros in debt and 13 million euros in grants, representing 77% of the project's total cost, which is estimated at 232 million euros. The balance will be provided by Biovea Energie's shareholders.

Found in the town of Aboisso, 100 km east of the capital Abidjan, Biovea will be the largest power plant in West Africa powered by agricultural waste and will meet the renewable electricity needs of the equivalent of 1.7 million people per year, EDF says.

Construction work on the biomass plant is due to start in September 2021, with commissioning scheduled for 2024.

EDF shares are currently up almost 3% at 12 euros.


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