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Azito Energie power plant in Côte d’Ivoire
Project
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Signature date
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Location
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Côte d'Ivoire
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Financing tool
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Financing amount (Euro)
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48799100
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Financing details
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USD 55m loan
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Customer
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Azito Energie S.A.
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Type of customer
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Company
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Project number
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PCI1136
The extension of the Azito power plant will increase the installed generation capacity in Côte d’Ivoire by 15%, while optimizing the use of local gas resources. Proparco is actively involved in this project.
Client presentation
Azito Energie is a project company under Ivorian law set up in 1997. Its shareholders include the Aga Khan Fund for Economic Development (AKFED), Electricité de France (EDF), Industrial Promotion Services (IPS), the UK development institution CDC Group, and the Swiss group ABB, the world leader in the field of energy technologies.
Project description
Proparco’s loan will contribute to financing the extension of the Azito power plant. The installation of a 139 MW steam turbine will raise the plant’s total capacity to 427 MW. This large-scale project will mobilize some USD 450m of foreign direct investments. Proparco was actively involved in structuring the financing of this project: through a USD 55m direct loan and as lead arranger with European development finance institutions.
Project impact
This project will raise the installed power generation capacity in Côte d'Ivoire by about 15%. It is an energy efficiency project, as it will optimize domestic gas resources and is expected to reduce consumption by 584 GWh and greenhouse gas emissions by 650,000 tons of CO2 a year.