IFC signs deal for 60 MW of solar projects in Ivory Coast
Solar panels. Featured Image: Jackiso/Shutterstock.com
The International Finance Corporation (IFC), part of the World Bank Group, has entered into an agreement with the Ivory Coast government for the development of two solar projects totalling 60 MW in the West African country.
The projects in question fall under the World Bank’s Scaling Solar programme, which provides a package of transaction structuring advice, project documents, risk management products, finance and insurance for solar projects. So far, the programme has backed developments in Zambia, Senegal, Togo, Madagascar and Uzbekistan.
The planned solar parks will be built through public-private partnerships (PPPs) and will be hooked to the grid.
The Ivory Coast aims at producing at least 42% of its power from renewable energy sources by 2030. For solar in particular, it targets 400 MW of generating capacity by the end of next decade.