Kong Solaire reaches financing agreement with FMO

Kong Solaire SAS has reached a financing agreement with Dutch development bank FMO for a 50 MWp solar plant near Kong in northern Côte d’Ivoire, according to PIDG’s release published on 20 October 2026 and internally dated 16 October. The original contains an unresolved amount discrepancy: its headline says €50 million, while the body describes up to €55.5 million of long-term financing over 20 years. FMO is described as providing all the project’s long-term financing. The parties developed adaptations to conventional project-finance structures to reflect West African emerging-market conditions. The release does not reconcile its two amounts, so neither should be silently substituted for the other as a confirmed total. The ownership is more specific than a simple three-party partnership. PIDG’s project-development platform InfraCo owns 49% of Kong Solaire, while Ivorian renewable-energy developer Africa Via holds 51%. AXIAN owns 55% of Africa Via and its founders hold the remaining 45%. This gives AXIAN an indirect stake of about 28% in the project and Africa Via’s founders about 23%. Electricity will be sold to CI-ENERGIES under a 25-year power purchase agreement. Expected annual generation is around 96 GWh, to be injected into the national grid. PIDG estimates that output could serve approximately 240,000 people and avoid 54,000 tonnes of carbon dioxide annually. These figures describe expected performance rather than recorded operating results. Construction is already under way, with commissioning expected in 2028 after an estimated 18-month construction period. PIDG links the plant to Côte d’Ivoire’s ambition to reach a 45% renewable share in its energy mix by 2030. Nexus analysis: The long-term loan and electricity sales contract establish distinct financing and revenue horizons. The shareholding details identify the actual sponsors, while the €50 million/€55.5 million conflict remains a source discrepancy requiring clarification.