Côte d’Ivoire selects winning bidder for landmark solar project, setting a new benchmark in renewable energy pricing and advancing national environmental governance goals. ESG BROADCAST shares key takeaways.
The Government of Côte d’Ivoire announced the conclusion of a competitive bidding process for the development of a major utility-scale solar photovoltaic plant, resulting in a record low tariff of USD 0.029 per kilowatt-hour. The project, located in the northern region of Boundiali, will be developed under a public-private partnership (PPP) framework, signalling a significant leap in the country’s renewable energy ambitions.
The tender was coordinated by the Ministry of Mines, Petroleum, and Energy in collaboration with the Ivorian Renewable Energy Agency (ANER-CI) and the national electricity utility, CI-Energies. Backed by concessional finance from multilateral development partners, the project is structured to deliver clean, reliable, and cost-competitive electricity to thousands of households while reducing dependence on fossil fuels.
The winning bidder, an international consortium with extensive experience in African solar markets, will design, build, finance, and operate the facility under a long-term power purchase agreement (PPA) with CI-Energies. The plant will have an installed capacity of 50 MW, capable of generating approximately 90 GWh annually. The tariff achieved through this auction represents the lowest ever recorded for a solar project in Côte d’Ivoire, reflecting competitive procurement, favourable financing conditions, and technological advancements in solar generation.
As part of the contractual framework, the developer is obligated to ensure compliance with national and international environmental and social safeguards. Strict ESG compliance clauses mandate biodiversity protection, responsible land use planning, and stakeholder engagement throughout the project lifecycle. Additionally, the plant will be integrated into the national grid with provisions for future battery storage to enhance energy resilience.
The bidding process was conducted under the guidance of the Scaling Solar programme, supported by the International Finance Corporation (IFC) and the World Bank Group, which provided transaction structuring expertise and risk mitigation instruments. Financing will blend commercial debt with climate-focused concessional funding, lowering the overall cost of capital and passing the benefits to consumers through reduced electricity tariffs.
By securing renewable energy at this unprecedented low rate, Côte d’Ivoire strengthens its climate policy update efforts and moves closer to its target of achieving 42% renewable energy in the national mix by 2030. The project is expected to reduce annual carbon dioxide emissions by an estimated 45,000 tonnes, contributing directly to the country’s nationally determined contributions (NDCs) under the Paris Agreement.
Strategic significance lies in the government’s demonstration that transparent, competitive procurement can deliver both economic and environmental gains. For ESG stakeholders, this project offers a replicable model for integrating green finance framework principles into energy sector reforms across West Africa.
ESG BROADCAST will continue monitoring the updates related to this topic. Stay tuned to be updated on the related policy and pivotal regulatory shift.
