FMO, the Dutch development finance institution, signed a financing agreement with Kong Solaire SAS on 20 October 2026. The package covers the project’s entire long-term debt requirement. It carries a 20-year tenor — a significant commitment for a West African renewable asset.
Kong Solaire Solar Project at a Glance
| Who | FMO, Kong Solaire SAS (Africa Via, AXIAN, InfraCo) |
|---|---|
| What | 50 MWp solar plant near Kong, northern Côte d’Ivoire |
| How much | Up to €55.5M (approx. US$62.3M), 20-year tenor |
| Offtake | 25-year power purchase agreement with CI-ENERGIES |
| Groundbreaking | October 2025 |
| Commissioning | 2028 |
Source: FMO announcement, 20 October 2026
Kong Solaire SAS is backed by Africa Via, AXIAN and InfraCo. InfraCo is the project-development arm of the Private Infrastructure Development Group (PIDG). AXIAN holds 55% of Africa Via, which in turn owns 51% of Kong Solaire. InfraCo holds the remaining 49%.
A contracted asset in northern Côte d’Ivoire
Construction began after a groundbreaking ceremony in October 2025. Commissioning is scheduled for 2028. The plant sits near the town of Kong, in the country’s northern region.
Based on project estimates, the facility will generate around 96 GWh annually. It is expected to supply approximately 240,000 people and avoid around 54,000 tonnes of CO2 emissions each year.
State utility CI-ENERGIES will buy the output under a 25-year power purchase agreement. That contract extends five years beyond FMO’s debt tenor. By FurtherAfrica’s reading of the numbers, the longer revenue window strengthens cash-flow visibility for lenders throughout the loan period.
FMO described the transaction as its second solar investment in Côte d’Ivoire. Marnix Monsfort, FMO’s director of energy, said the bank was providing long-term capital to support the country’s energy transition.
What does the Kong deal mean for investors?
The project’s structure reduces several early-stage risks. A contracted offtaker, a defined construction schedule and full-tenor debt coverage give institutional investors a clear framework. However, grid performance and payment reliability will shape the asset’s operating record after commissioning.
The table below summarises the key project metrics, drawn from the 20 October 2026 announcement.
| Metric | Detail |
|---|---|
| Financing amount | Up to €55.5M (approx. US$62.3M) |
| Debt tenor | 20 years |
| Power purchase agreement | 25 years (CI-ENERGIES) |
| Plant capacity | 50 MWp |
| Annual generation (est.) | ~96 GWh |
| People supplied (est.) | ~240,000 |
| CO2 avoided annually | ~54,000 tonnes |
Across West Africa, private capital is moving steadily into utility-scale renewables. Contracted assets — those with signed offtake agreements before financial close — attract the most development-finance interest. The Kong deal fits that pattern precisely.
FMO’s commitment signals that long-tenored, single-lender structures remain viable in Francophone West Africa. That matters for project developers working on the next wave of solar pipelines in the sub-region.
Investors and policymakers should monitor construction progress through 2027 and into the 2028 commissioning window, alongside any subsequent privately financed renewable projects that CI-ENERGIES brings to market.
Quick answers
FMO is providing up to €55.5 million (approximately US$62.3 million) in financing. The loan carries a 20-year tenor and covers the project’s entire long-term debt requirement.
Kong Solaire SAS is 51% owned by Africa Via (in which AXIAN holds 55%) and 49% by InfraCo, a PIDG company. State utility CI-ENERGIES will purchase the output under a 25-year power purchase agreement.
Commissioning is scheduled for 2028, following a groundbreaking in October 2025. The 50 MWp plant is expected to generate around 96 GWh annually and supply approximately 240,000 people.
