Biovea Biomass Plant
$42m of debt to support the construction and operation of a 46 MW biomass plant in Côte D’Ivoire (LMIC and FCAS). This will improve income generation for 12k outgrowers, while increasing access to reliable electricity to 743k consumers and avoiding 120k tCO 2e per year.
Direct Impact on People
12k outgrowers are expected to benefit from an increase in income generation. 743k consumers are expected to benefit from improved access to electricity. The users who consume the most power will feel the largest impact.
Direct Impact on the Planet
Avoid 120k tCO 2e per year.
SDG assessment
SDG 2.3 – Increase agricultural productivity and incomes of farmers.
SDG 7.1 + 7.2 – Access to affordable and reliable renewable energy
SDG 13 – Climate change mitigation.
Market transformation
Challenge: The grid in Cote D’Ivoire is dominated by thermal power.
Channel: Demonstrate first biomass IPP project in the country.
Outcome: Further replication of biomass projects to increase renewable generation and diversify the energy mix.
Moblisation
Mobilised $64.5m of private sector investment.
PIDG TA
$9.5m of viability gap funding (VGF) to enable the project to reach financial close.
HSES
As part of the due diligence process, 20 HSES improvements and one HSES enhancement opportunity were identified which are now reflected in the Project Environmental and Social Action Plan (ESAP). Enhancements include defining and implementing climate adaptation actions from the climate vulnerability assessment.
