Kong Solaire
Status: Proposed investmentWhy disclosure?
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In case of questions
We welcome feedback on this proposed investment opportunity for FMO. The ending of the proposed investment phase is indicated on the right side of this page. In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our prospective customer?
Kong Solaire S.A.S ("the Client") is a special-purpose vehicle established in Côte d’Ivoire to develop, construct, own, operate, and maintain, via a 25-year concession agreement with the Government of Côte d’Ivoire, a 50 MWp photovoltaic (PV) plant and related transmission infrastructure near the Kong village in Côte d’Ivoire. The Client is owned 51% by infrastructure near the Kong village in northern Côte d’Ivoire. The Client is owned 51% by InfraCo Africa Ltd – part of the Private Infrastructure Development Group (PIDG) – and 49% by AfricaVia SAS (partially owned by Axian Energy Green Ltd).
What is our funding objective?
FMO will provide a 20-year senior secured loan of EUR 50.5 million to finance the PV plant and related infrastructure, while the transmission infrastructure will be funded by a separate EUR 4.5 million FMO senior loan with a shorter maturity (the CRIAC facility). The transmission infrastructure will be transferred to the Government of Côte d’Ivoire upon completion, while the PV plant will be operated and maintained, until the end of the concession agreement, by the Client.
Why do we want to fund this investment?
This project is one of the first greenfield renewable energy developments and one of the first privately owned solar power projects in Côte d’Ivoire. Kong Solaire will provide clean, reliable, and affordable electricity to a country working to expand its electricity generation and grid capacity, especially in the northern part of the country, where this project is located. Electricity generated by solar irradiation resources will have a lower price than the electricity currently generated by thermal power stations (natural gas and heavy fuel oil). FMO's tenor of up to 20 years is not available in Côte d’Ivoire's local commercial banking market and will allow the project to sell the electricity produced to the national utility company at an attractive tariff. The project has a 100% Green label, which aligns with FMO's Sustainability strategy and mandate.
What is the Environmental and Social categorization rationale?
The E&S category of this investment is B+. Environmental and Social (E&S) risks are typical for a solar power plant and are most prominent during the construction phase. The applicable IFC Performance Standards (PS) are PS 1, 2, 3, 4, 5, 6, and 8. Key risks include worker health and safety, working conditions, contractor management, impacts upon ecosystem services, economic displacement, and community health, safety, and security. The risks are significantly lower during the operational phase, with a limited number of on-site staff required and limited residual impacts on local communities. PS7 on Indigenous Peoples is not applicable as there are no Indigenous Peoples in the project area. Risks are expected to be well managed through measures, including a comprehensive Livelihood Restoration Plan and Community Development Plan. The Environmental and Social Impact Assessment (ESIA), including management plans, will be updated before construction.
More investments
| Date | Total FMO financing |
|---|---|
| 3/6/2026 | EUR 4.50 MLN |
- Website customer/investment
- https://pidg.org/infraco-africa-invests-to-develop-a-50mwp-solar-plant-in-cote-divoire/
- Region
- Africa
- Country
- Côte d'Ivoire
- Sector
- Energy
- Publication date
- 3/6/2026
- Deadline for feedback
- 5/5/2026
- Total FMO financing
- EUR 46.00 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+