Azito Gas-Fired Power Plant Phase IV

Active

Prospective

The project involves the expansion (phase IV) of the Azito Thermal Power Plant, located near the Azito village in Yopougon District, approximately 6 kilometres west of the port of Abidjan in Côte d’Ivoire. This will add 253MW of Combined Cycle generation consisting of a new 181MW gas turbine and a 72MW steam turbine both manufactured by General Electric, bringing the total net capacity of the plant to 680MW. The electricity will be sold to the Government of Côte d’Ivoire, through CI- Energies, under a 20-year concession agreement. The project company Azito Energie SA is owned 76.9% by Globeleq Africa Holdings Limited (Globeleq) and 23.1% by Industrial Promotion Services (West Africa) (IPS (WA), a member of the Aga Khan Fund for Economic Development (AKFED). The project cost of around EUR 330 million ($366.1 million) will be financed via shareholders’ equity and a total of EUR 264 million ($293.8 million) debt provided by FMO (EUR 27.7 million or $ 31 million), the African Development Bank (AfDB), West African Development Bank (BOAD), OPEC Fund for International Development (OFID), International Finance Corporation (IFC with EUR 46 million or $ 51.03 million), French (PROPARCO), Belgian Investment Company for Developing Countries (BIO) and German Investment Corporation (DEG) counterparts and the Emerging Africa Infrastructure Fund (EAIF with EUR 28 million or $ 31.06 million). IFC arranged the full debt financing package. Financial close was reached in January 2020. https://www.globeleq.com/globeleqs-azito-plant-reaches-financial-close-for-253-mw-expansion/ https://ijglobal.com/articles/145120/globeleq-closes-on-expansion-of-azito-gas-fired https://ifcextapps.ifc.org/ifcext/pressroom/ifcpressroom.nsf/0/7F2DCA15F0972811852584410050F833?OpenDocument https://www.fmo.nl/project-detail/56184 https://www.fmo.nl/news-detail/fa454ced-a862-4248-80ee-84fa271f1a5d/fmo-finances-expansion-of-azito-power-plant-in-ivory-coast https://ijglobal.com/data/transaction/45695/azito-gas-fired-power-plant-phase-iv-250mw https://www.eaif.com/eaif-lends-e28-million-to-azito-energies-power-plant-expansion-in-cote-divoire/ https://www.globeleq.com/projects/azito-phase-iv-expansion/

Energy

Cote d'Ivoire

World Bank Group

Project

Geothermal, Wind, Manufacturing (Industrial), Power Generation (CCGT), Seaport, Government, Natural Gas, Commercial