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Unlocking private investment : A Roadmap to achieve Côte d’Ivoire’s 42 percent renewable energy target by 2030 (English)

Countries around the world are working towards a low-carbon future. Since the adoption of the Paris Agreement in December 2015, 189 countries have submitted national plans that set clear goals to increase investment in renewable energy, energy efficiency, sustainable infrastructure, climate-smart agriculture, and more. Beyond setting the stage for bottom-up action, these Nationally Determined Contributions (NDCs) also opened massive potential for investment—nearly $23 trillion according to the 2016 International Finance Corporation (IFC) Climate Investment Opportunities in Emerging Markets report. Much of this investment will need to come from the private sector. Governments— including Cote d’Ivoire—are increasingly interested in working with the private sector to unlock vital finance and develop innovative solutions. Costs for renewable energy are rapidly decreasing and in certain cases can be less expensive than generating electricity from fossil fuels. This has helped to radically change the model of energy development and access around the globe, and a larger share of the energy mix is expected to be renewable in future. In regions like Sub-Saharan Africa where there is high interest in expanding infrastructure to improve access to energy, there is an opportunity to leapfrog traditional electrification approaches and develop new models that are cleaner, more efficient, and focused on customer and business needs. Cote d’Ivoire’s commitments are ambitious. The country's NDC, released in 2016, set a target to reduce its greenhouse-gas emissions by 28 percent by 2030, including a target to generate 42 percent of electricity from renewable energy by 2030. As highlighted in the IFC Climate Investment Opportunities report, the country is focused on spurring economic growth and solidifying its role as an economic engine for West Africa. The government recognizes the key role of private sector investment in expanding renewable energy penetration. Overall, Cote d’Ivoire’s 2016-2020 National Development Program aims to attract $32 million in private investment. The main drivers of sustained growth are expected to be both public and private investments in infrastructure, opening significant opportunities for the energy and electricity sectors. The Ministry of Petroleum, Energy and Renewable Energy Development is developing the overall strategy and policy framework for including renewables into the energy mix. The Societe des Energies de Cote d’Ivoire (CI-Energies), a state-owned asset holding company, is moving this framework forward and has mapped technology-specific needs and is offering tenders to develop the projects that will contribute to NDC goals. Although Cote d’Ivoire has yet to increase its power generation capacity, it has made substantial progress in improving the existing transmission and distribution network and restoring the energy sector’s financial viability.

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Details

  • Author

    Kerr, Tom, Maheshwari,Aditi

  • Document Date

    2018/01/01

  • Document Type

    Working Paper

  • Report Number

    128912

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Cote d'Ivoire,

  • Region

    Africa,

  • Disclosure Date

    2018/07/26

  • Disclosure Status

    Disclosed

  • Doc Name

    Unlocking private investment : A Roadmap to achieve Côte d’Ivoire’s 42 percent renewable energy target by 2030

  • Keywords

    installed capacity; transmission and distribution network; Environmental and Social Impact; cost of feasibility study; Country Economics and Engagement; impact of climate change; Environmental and Social Performance; project design and implementation; energy development and access; animal waste as fuel; private investment in infrastructure; net exporter of electricity; renewable energy sector; private sector engagement; renewable energy target; potential for hydropower; private sector solution; independent power producer; Solar Home System; renewable energy investment; renewable energy penetration; quality and transparency; real growth rate; Thermal Power Generation; palm oil production; property of ifc; renewable energy strategy; source of funding; asset holding company; source of fuel; laws and regulation; power generation capacity; Access to Energy; global best practice; Printing and Multimedia; gdp growth rate; development finance institution; lack of competition; health and environment; quality assurance process; national electricity regulator; electricity grid access; source of energy; security of supply; international cooperation agency; Renewable Energy Policy; availability of biomass; power purchase agreement; gross electricity generation; private sector perspective; delivery of electricity; renewable energy capacity; emerging market country; renewable energy source; Finance for Development; thermal power plant; electrical generation capacity; renewable energy mix; series of dialogues; Access to Electricity; generation mix; private company; private developer; agricultural sector; investment opportunities; capacity factor; tender process; small hydropower; energy generation; export crop; business model; energy access; public-private partnership; financial viability; Energy Projects; Electricite de; development partner; Exchange Rates; electricity access; hydropower generation; hydroelectric potential; large hydropower; hydro site; domestic demand; resource availability; distributed generation; government plan; project pipeline; hydropower asset; quality information; electricity need; retail tariff; Public-Private Dialogue; innovative business; public resource; financial inclusion; agricultural product; existing resources; logistics requirement; biomass production; source oil; electric output; gigawatt hour; power energy; thermal generation; energy loss; Gas Turbine; applicable law; local stakeholder; biofuels sector; sweet sorghum; biomass generation; supply chain; civil society; government support; biomass power; landfill gas; Wind Power; electricity production; test case; biomass waste; pipeline cost; wood processing; business case; secure supply; regional demand; selection criterion; solar development; investment advice; hydro capacity; grid technologies; kilowatt hour; interconnected grid; export commitment; solar biomass; biomass resource; french development; local processing; maximum energy; technical error; government's objectives; grid code; pipeline use; private investor; agricultural process; concessional financing; energy content; political stability; fiscal policy; Fiscal policies; financial service; investment climate; Clean Energy; donor community; creating job; electrical system; power capacity; local industry; prudent fiscal; oil palm; farming system; long-term perspective; Business Climate; public finance; monetary policy; constructive dialogue; moderate inflation; global development; export commodity; hydro production; private finance; contract structure; gas producer; short-term debt; sustainable level; financial sustainability; gas capacity; contractual framework; gas natural; diverse stakeholder; hydropower facility; grid connection; partnership arrangement; potential investor; gas-fired power; tariff structure; financing structure; industrial activity; investment potential; electricity system; biomass sector; energy technology; long-term financing; high energy; peak demand; viable market

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Citation

Kerr, Tom Maheshwari,Aditi

Unlocking private investment : A Roadmap to achieve Côte d’Ivoire’s 42 percent renewable energy target by 2030 (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/566921532638485663/Unlocking-private-investment-A-Roadmap-to-achieve-Côte-d-Ivoire-s-42-percent-renewable-energy-target-by-2030