SOLARNUB explores the energy sector in Ivory Coast

Solar Energy in Ivory Coast

SOLARNUB in commercial mission with EXTENDA and ICEX

Cote d’Ivoire, officially the Republic of Côte d’Ivoire (French: République de Côte d’Ivoire), also known by its French name Côte d’Ivoire, is a country located in West Africa. It borders Liberia and Guinea to the west; Mali and Burkina Faso to the north; Ghana to the east, and the Gulf of Guinea to the south. Côte d’Ivoire is the 53rd most populous country and the 68th largest in the world, with a population estimated at just under 25 million inhabitants and an area of ​​322,463 km². Its capital is Yamoussoukro and the seat of government, Abidjan.

Solar Energy in the Ivory Coast

SOLARNUB was invited to participate in the BOS forum in Abidjan, along with other Andalusian companies such as INERCO Engineering, INGENIA Engeniería, Deltalene Ejido SLU, Portocarrero de Proyectos, and in a group, coordinated and guided by Extenda’s  excellent commercial technician Enrique Sánchez, we venture to discover business opportunities in the solar photovoltaic market and here is an example of a project that caught our attention:

 

Côte d’Ivoire announces the construction of a new solar power plant

Government sources indicated that the installation, of 25 megawatts, will come into operation in 2018. Côte d’Ivoire plans to build a 25 megawatt solar power plant in the north of the country with the aim of strengthening its electricity network by incorporating renewable energies, according to reports by Reuters, based on statements made by the government spokesman of this sub-Saharan African market, Bruno Kone.

The infrastructure, valued at 23,600 million CFA francs (35.9 million euros), will be built by the company Korhogo Solaire, a subsidiary of the Moroccan Nova Power. It is expected to come into operation in 2018, explained the government representative after a meeting of the Executive.

This country’s economy is the world’s largest producer of cocoa. However, its rapid growth has put pressure on its energy sector, which also exports electricity to Burkina Faso, Ghana, Mali, Togo and Liberia.

Currently, the government seeks to attract enough investment to double production to 4,000 megawatts in 2020.

Solar Energy in Ivory Coast

Côte d’Ivoire is one of the most dynamic countries in the world with an average economic growth of + 8% of GDP since 2012, a forecast of sustained growth of around 7% until 2023, and controlled inflation of around 1%, according to the IMF. With a population estimated at 25 million, Côte d’Ivoire is the cornerstone of the UEMOA (Economic and Monetary Union of West Africa), a single market of eight countries and about 110 million people with a common currency linked to the Euro , the CFA franc, which eliminates exchange risk for Spanish exporters and investors.

 

With an installed capacity of 1,383 MW in 2010 that amounted to 2,199 MW in 2017, the Government expects to reach 4,000 MW in 2020 and 6,000 MW in 2030, with a growing use of renewable energy to represent 42% of the global energy mix in 2030 (16% excluding hydroelectric power).

 

To alleviate these problems, various programs financed by the Ivorian government, multilateral institutions, international development aid agencies and the private sector are underway. Among others, PRONER stands out (National Program of Rural Electrification) whose objective is to electrify all the localities of the country before 2020; the PEPT (Electricity for All Program) that seeks to facilitate the access of one million households to electricity before 2020, subsidizing the connection to the electricity grid; the PRODERCI (Development and Rehabilitation Project of the electricity network of the Ivory Coast) launched in July this year for 700 million euros and financed by China.

African Development Bank

On the occasion of the 4th edition of the Seminar on Business Opportunities of the African Development Bank (AfDB) on April 4 and 5, 2019 in Abidjan (Ivory Coast), ICEX Spain’s agency for promotion of Exports and Investments abroad in collaboration with the Economic and Commercial Office in Abidjan, organized a promotional campaign aimed at Spanish enterprises interested in learning more about the AfDB. This activity was supported by ACCIÓ, AVANTE, BASQUE TRADE AND INVESTMENT, EXTENDA and PROEXCA.

The AfDB is the most important regional financial institution, with a decade-long strategy for the 2013-2022 period focused on five main areas, the so-called “High 5”:

  • Light up and provide energy for Africa,
  • Feed Africa
  • Industrialize Africa
  • Integrate Africa
  • Improve the lives of Africans

 

 

 

 

 

 

 

 

 

Diego Llatas from SOLARNUB, with Manuel Romero from INERCO, and Enrique Sánchez from EXTENDA.

 

 

 

 

 

 

 

 

 

Auditorium Babacar, African Development Bank, Abidjan.

If you liked this article, don’t miss Intersolar Munich 2019

DIEGO LLATAS BDD

It is the contact with the installers and the market, Bachelor science in Economics, MBA, Master in Renewable Energy, with more than 20 years of international experience in world-class organizations. People skills, sales driven, always searching for opportunities and developing the business offline.

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