Meridiam, EDF and Biokala win biomass concession

EDF, Meridiam and Biokala (a subsidiary of SIFCA Group), through their joint venture BIOVEA Energie, have signed a 25-year DBFOM contract with the Cote d’Ivoire government for a €200 million ($223.5 million) 46MW biomass power project. AFD, Proparco and the Emerging Africa Infrastructure Fund (EAIF) will provide debt for the scheme.

Construction is expected to begin in mid-2020 and the plant – located in Aboisso, 100 km to the east of Abidjan – will be operational two years later. EDF, Meridiam and SIFCA respectively hold 40%, 36% and 24% shares in BIOVEA Energie.

The project falls within the framework of the Cote d’Ivoire National Renewable Energy Action Plan for 2014-2030, which aims to have a 42% share of renewables in the energy mix by 2030. At the end of the concession ownership of the plant will be transferred to Cote d’Ivoire.