NEWS

Côte d’Ivoire has reached an important step in its renewable energy journey with the financial closing of the Sokhoro solar photovoltaic project. The plant, located near Ferkessédougou in the Tchologo Region, will have a capacity of 52 MWp and is set to become one of the country’s largest solar installations.

The project stands out because of its unique “FCFA/Euro” financing model. This structure combines international funding with local currency support, helping reduce exchange rate risks that often affect large infrastructure projects in Africa. This approach is being seen as a new way to attract both foreign and regional investors.

The solar plant is being developed by Poro Power 1, a special-purpose company led by PFO Africa. To raise funds, the developer introduced the country’s first green bonds for an energy project, targeting around €55 million. This move allows the project to access regional capital markets while ensuring financial stability.

Major financial support has come from global and regional institutions. The Emerging Africa & Asia Infrastructure Fund has committed €28 million, while the West African Development Bank has provided funding in local currency equal to €24 million. This mix of funding highlights growing investor trust in the country’s private sector and renewable energy plans.

Once completed, the Sokhoro plant is expected to generate about 90 GWh of clean electricity every year. This will be enough to supply power to more than 370,000 people. The project will also help reduce carbon emissions by around 41,000 tonnes annually, supporting climate goals.