Infinity Power achieves one of West and Central Africa’s lowest solar IPP tariffs

The International Finance Corporation (IFC) and the Government of Côte d’Ivoire have awarded an 80-megawatt (MW) solar project to Infinity Power Holding. In a statement, the IFC said Infinity Power will design, finance, build, and operate two grid-connected solar plants in the West African nation.

They awarded the solar projects to Infinity Power at EUR 0.03310/kWh (around INR ₹3.05/kWh) for a site in Laboa and EUR 0.03213/ kWh (around  ₹2.96/kWh) for a site in Touba. With this project, Infinity Power has set one of the lowest solar independent power producer tariffs in West and Central Africa.

Egypt-based Infinity Power, a joint venture between Infinity of Egypt and the United Arab Emirates’ Masdar, won the bid, the IFC said. The firm will design, finance, build, and operate two grid-connected solar PV plants in Côte d’Ivoire, it added.

The company explained briefly about the project, saying, "The plants will bring clean, reliable electricity to more than 400,000 households, schools, hospitals, and businesses in remote areas of the country. The project was supported by a financial contribution from the German Federal Ministry for Economic Cooperation and Development. Construction is expected to begin by March 2026, with completion by the end of 2026."

About The Project

IFC said the Côte d’Ivoire’s government organized the bidding process through the World Bank Group’s Scaling Solar Program, which is a one-stop-shop financing approach leveraging various World Bank Group instruments and services to reduce energy generation costs.  

It claimed that the project can help Côte d’Ivoire reach its goal of increasing the country’s share of renewable energy to 42 percent by 2030 from only about 1 percent currently. By introducing more Solar PV capacity, Côte d’Ivoire aims to diversify its energy mix while developing a more resilient energy sector, said a global development institution.  

Mohamed Ismail Mansour, Co-Founder and Chairman of Infinity Power, said, “Being entrusted with projects of this importance demonstrates our ability to deliver on Africa’s energy potential. These solar plants will not just bring affordable electricity to hundreds of thousands of people but will also empower communities, strengthen infrastructure, and accelerate the country’s progress toward a decarbonised future.”

"These projects have three key objectives: to increase our production capacity, to strengthen our energy resilience, and to create local jobs and investment opportunities, said Mamadou Sangafowa-Coulibaly, Minister of Mines, Oil and Energy in Côte d'Ivoire.

Marie Chantal Uwanyiligira, World Bank Division Director for Benin, Côte d’Ivoire, Guinea, and Togo, said, “Increasing the share of solar energy in its mix, as demonstrated in this operation, will not only lower generation costs but also set the country on the path to universal access. The World Bank Group applauds these efforts and stands ready to leverage its financing and technical expertise to attract more private sector investment."

“Access to clean energy fosters rural productivity and incomes, develops human capital, and creates sustainable, private sector jobs,’’ said Olivier Buyoya, IFC Regional Director for West Africa.