The government of Ivory Coast has officially launched the construction of the Azito power plant expansion (phase 4) near Abidjan. The gas-fired Cpower plant, which has already a capacity of 460 MW, will be expanded by 253 MW of CCGT capacity. The new phase is expected to produce first power in 2021. All its power generation will be sold to the State of Ivory Coast under a 20-year agreement.
The project is owned by Azito Energie, which is a joint venture between Globeleq and IPS (West Africa), an affiliate of the Aga Khan Fund for Economic Development. The expansion, which will cost €264m, is financed by a group of lenders, which include the International Finance Corporation (IFC), the African Development Bank (AfDB), the West African Development Bank (BOAD), the OPEC Fund for International Development (OFID) and a pool of European development finance institutions.
Ivory Coast's installed capacity has increased by more than 50% since 2011 and now stands at 2.3 GW (end-2018). The country intends to reach a capacity of 4 GW in a few years and a 42% share of renewables (including hydro) in the power mix by 2030.
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