Dutch development bank FMO is financing the 50 MW Kong solar project in the Ivory Coast with a €55.5 million ($62.3 million) package. The financing represents the project's entire long-term financing with a 20-year tenor.
FMO entered into the financing agreement with project company Kong Solaire SAS. Africa Via, an Ivorian developer of renewable energy projects, holds a 51% stake in Kong Solaire SAS, while InfraCo holds the remaining 49%. Pan-African conglomerate Axian holds a 55% stake in Africa Via alongside its founders, giving it an approximately 28% indirect stake in Kong Solaire.
A 25-year power purchase agreement is in place with CI-Energies, the country's state-owned electric utility. Construction of the power plant is already underway, following a groundbreaking ceremony in October 2025, with commissioning scheduled for 2028. The solar project is expected to supply electricity to approximately 240,000 people once completed.