IPP Co-Investment in Ci-Energies 100 MW Solar-Plus-Storage PPA Projects (Dabakala / Niakaramandougou)

Côte d'Ivoire continues to be West Africa's most dynamic investment destination in mid-2025. GDP growth reached 6.5% in 2024 and is forecast at 5.5–6% through 2027, well above regional peers. CEPICI reported a 9.6% rise in approved private investment to $1.45 billion in 2025, led by agriculture, telecoms, and SME processing. State utility Ci-Energies launched two landmark 100 MW solar-plus-storage tenders in June 2025, each backed by 25-year PPAs, as the country targets 45% renewables by 2030. On the agro-industrial front, the government is aggressively pursuing its goal of processing 70–80% of cocoa beans domestically by 2030, evidenced by the inauguration of the Transcao PK24 50,000-ton facility. A February 2025 bill regulating industrial zones and an incoming 2025–2030 National Development Plan targeting 72% private-sector financing reinforce the pro-investment policy momentum. Fitch upgraded Côte d'Ivoire to BB (stable) and the CFA franc's euro peg provides currency stability. Risks include political succession uncertainty after President Ouattara's 2025 re-election, Sahel security spillovers in the north, and judicial opacity for foreign investors.

In June 2025, Ci-Energies launched live tenders for two 100 MW solar parks with 33 MWh storage each, both backed by 25-year power purchase agreements — the longest-tenor energy offtake ever offered in Côte d'Ivoire. The government's 2025–2030 National Development Plan earmarks renewables expansion as a top priority, and the $1.3 billion IMF Resilience and Sustainability Facility is co-financing the green energy transition.

Market drivers:

- Government target of 45% renewable electricity share by 2030 versus only 40 MW installed solar at end-2024

- 25-year PPAs eliminate merchant price risk for investors and project sponsors

- Strong IFC/AfDB co-financing appetite: IFC holds $761M active Côte d'Ivoire portfolio with 23.5% in infrastructure

Risks:

- Grid interconnection delays and land-tenure complications in the northeast and central regions targeted by the tenders

- Currency risk on EUR-denominated capex against CFA franc-denominated revenues, despite the euro peg