The financing of the Singrobo-Ahouaty hydroelectric project has been completed with the mobilisation of 174.3 million euros. The funds were raised from several international financial institutions.
The Singrobo-Ahouaty hydroelectric project is now entering its full construction phase. Its developer, Ivoire Hydro Energy (IHE), has completed the financing of the project through a €174.3 million transaction arranged by the African Development Bank (AfDB). The pan-African bank is contributing €40 million.
The other part of the financing comes from Emerging Africa Infrastructure Fund (EAIF), a company of the Private Infrastructure Development Group (PIDG), the African Finance Corporation (AFC), as well as the German Investment Corporation (DEG), the group’s subsidiary of Kreditanstalt für Wiederaufbau (KfW), the German development agency. These financial institutions will provide 75% of the funds needed to set up the Singrobo-Ahouaty hydroelectric scheme.
A 44 MW power plant
The other 25% of the funding will be provided by IHE’s shareholders, Themis (backed by Denham Capital), AFC and IHE Holding, a local development company. Now that the financing is complete, the company will focus on building the infrastructure. The work, which will last 36 months, has been entrusted to Eiffage.
Read also- IVORY COAST: USTDA allocates $1 million for the Boundiali biomass plant project
The French group plans to build a mixed rock and concrete dam that will be 23.50 m high and 1,374 m long, forming a 105 million m³ reservoir. The dam will be built on the Bandama River, in the villages of Singrobo and Ahouaty, between Abidjan and Yamoussoukro. The water reservoir will be used to turn the turbines of a power plant capable of producing 44 MW.
As part of the contract, Eiffage Génie Civil and Eiffage Energie Systèmes will also build the discharge channel for the Singrobo hydroelectric plant, the 90 kV switchyard, the 3 km line connecting the plant to the grid, temporary facilities and access roads. The dam and power plant are expected to be operational by 2023. The power plant’s output will be sold to the Ivorian Electricity Company (CIE) under a 35-year power purchase agreement (PPA).
Jean Marie Takouleu
