- Movis has signed a partnership agreement with Biovea Energy for improved electricity generation.
- The future power plant will produce electricity by incinerating oil palm waste.
The renewable energy project developer, Biovea Energy, has signed a partnership with Movis Ivory Coast, a company specialised in logistics and supply chain. The subsidiary of Movis International will handle the logistics and transportation of the biomass from the collection sites to the Ayébo power plant in the southeastern Ivory Coast.
The future power plant will produce electricity by burning up oil palm waste. This agricultural waste will be collected over 25 years by Movis from 12,000 farmers. The Ayébo power plant will have two units of 23MW each. The total capacity of the plant will be 46MW. The electricity will be produced by disposing of 480,000 tons of oil palm waste.
For the project, Biovea will invest nearly 200 million euros. The company will rely on loans from Proparco, the private sector financing arm of the French Development Agency (AFD), and financing from the Netherlands Development Finance Company (FMO). The Ayébo plant also receives funding from the Private Infrastructure Development Group (PIDG) and its subsidiary Emerging Africa Infrastructure Fund (EAIF). The plant is expected to begin commercial operations in 2023.