Wedoany.com Report-Jun 14, Climate Fund Managers (CFM) and Société Des Energies Nouvelles, an Ivorian independent power producer, have signed a $3 million agreement to co-develop the 76MW Divo Biomass Project in Côte d’Ivoire. Announced in 2025, the project, located in Divo, will be the world’s first grid-connected power plant converting cocoa waste into energy, operating as a public-private partnership.

The facility will process 600,000 tonnes of agricultural waste annually, including cocoa pod husks, bean shells, and end-of-life rubber trees, to produce 550GWh of clean electricity for Côte d’Ivoire’s national grid starting in 2029. It is expected to reduce CO₂ equivalent emissions by 300,000 tonnes yearly over 30 years, create over 3,900 jobs, and support 36,000 smallholder cocoa farmers with new income opportunities.

Funding comes from CFM’s Climate Investor Two fund, supported by the European Union, which focuses on infrastructure in emerging markets. The $3 million will cover technical design, permitting, environmental and social studies, and negotiations for a power purchase agreement with the Ivorian government, the project’s offtaker. Darron Johnson, CFM’s regional head for Africa, stated: “This project demonstrates the vital role of blended finance in bringing complex, first-of-its-kind infrastructure to life in frontier markets like Côte d’Ivoire. By using public capital to fund early-stage development, we can unlock private capital at scale – delivering not only clean energy and rural livelihoods, but also setting a precedent for future investment in the country.”

Yapi Ogou, CEO of Société Des Energies Nouvelles, highlighted the project’s innovative approach, saying: “By harnessing this untapped resource to generate clean, reliable energy, we’re turning a national challenge into an opportunity for sustainable growth, rural prosperity, and a more resilient energy system.” The plant addresses the issue of millions of tonnes of cocoa waste generated annually, transforming it into a valuable energy resource.

Francesca Di Mauro, EU Ambassador to Côte d’Ivoire, noted: “The investment in Divo Biomass Plant, part of the EU’s broader Global Gateway strategy, illustrates our comprehensive approach to tackling critical challenges such as climate change, deforestation, and rural job creation. By integrating a circular economy approach – generating renewable energy from cocoa waste – the Divo project exemplifies innovation in clean energy.” The project aligns with the EU’s Team Europe Initiative, which includes over €1.5 billion in low-carbon investments.

Initiated in 2016, the Divo project received a $96,000 grant from the U.S. Trade and Development Agency in 2018 for feasibility studies. The plant is poised to drive sustainable development, enhance energy security, and set a model for renewable energy projects in emerging markets.