Globeleq and IPS (West Africa), a company owned by the Aga Khan Fund for Economic Development, have announced its subsidiary, Azito Energie SA, has signed an amended Concession Agreement with the Government of Côte d’Ivoire to add 250 MW to the existing Azito gas-fired power plant near Abidjan.

The existing power plant currently generates 430 MW and plays an important part in the sector. The Phase IV expansion, combined with the technical MXL2 upgrade (being undertaken during 2019 adding 30 MW to the plant’s capacity), will see Azito supplying around 700 MW, or approximately 30 percent of Côte d’Ivoire’s installed capacity.

The Azito Phase IV expansion project is expected to reach financial close in June 2019 in accordance with the government’s desired target.