ECP announces portfolio company Eranove signs EUR303mn financial agreement

11 Mar 2020

Emerging Capital Partners (ECP) announces that portfolio company Eranove has signed a financing agreement for a 390 MW combined cycle power plant in Côte d’Ivoire. Eranove, the Pan-African utilities group, signed the EUR303mn financing agreement with International Finance Corporation (IFC), member of the World Bank Group, and the State of Côte d’Ivoire.

The CIPREL V power plant, owned by subsidiary Atinkou (meaning “House of Light” in the Ebrié language), will be in Jacqueville, near Abidjan. The Atinkou power plant will use combined-cycle turbine technology that combines a gas-fueled turbine and a recycled steam-fueled turbine for more efficient gas consumption.

Eranove anticipates that the power plant will supply energy to around one million households in Côte d’Ivoire each year, supporting national efforts to facilitate sustainable economic growth through increased access to affordable energy.

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