LONDON, October 23, 2026/APO Group/ –Côte d’Ivoire’s Poro Power solar project has received international recognition for a pioneering investment structure led by Africa Finance Corporation (AFC) (www.AfricaFC.org/), demonstrating how African capital can be mobilised to develop essential infrastructure and accelerate the transition to cleaner energy. The facility is expected to become Côte d’Ivoire’s largest solar plant when operational in 2027.

 



 
 

The project won ESG Green Bond Deal of the Year for Africa at the recent Infra Global ESG Awards 2026 in London, while AFC received ESG Green Bond Arranger of the Year for Africa. The double honours recognise the innovation behind the Poro Power transaction and AFC’s role in structuring and mobilising investment for sustainable infrastructure.

Developed by Ivorian entrepreneurs, the 66-megawatt solar plant is under construction in northern Côte d’Ivoire near the city of Korhogo. It is projected to generate approximately 136 gigawatt-hours (GWh) of electricity annually, meeting the needs of more than 100,000 households and benefiting an estimated half a million people.

Beyond providing homes, public services and businesses with reliable power, the project will help Côte d’Ivoire towards meeting its target of increasing renewable energy’s share of electricity generation to 45% by 2030. The Government of Côte d’Ivoire is enabling projects such as Poro Power through its initiative to encourage local private-sector participation in large-scale renewable energy projects, led by the Ministry of Mines, Petroleum and Energy under Minister Mamadou Sangafowa-Coulibaly.

“These awards are a tremendous recognition for an Ivorian project developed to meet the needs of our own communities,” said Jean-Marc Aie, Chairman and CEO of Poro Power 1 S.A. “Our ambition is not simply to generate clean electricity, but to support businesses, create opportunities and contribute to the development of Côte d’Ivoire. The Ministry’s strategy to empower local private developers to undertake large-scale renewable energy projects, together with AFC’s investment and innovative financing structure, has been instrumental in bringing Poro Power to this stage.”

The €65 million financing package, equivalent to approximately FCFA 42.6 billion, was raised through a green bond — an investment instrument that enables institutions to lend money to projects delivering environmental benefits. It was the first project-finance green bond in both Côte d’Ivoire and the West African Economic and Monetary Union (WAEMU), establishing a precedent for French-speaking West Africa, and was led, structured and fully funded by African institutions. The transaction allowed investors to participate in both euros and CFA francs, making it also Côte d’Ivoire’s first dual-currency green bond. Together, these features demonstrate how African financial institutions can mobilise their own capital for major infrastructure projects, using financing structures suited to African markets.

AFC invested €43 million (approximately FCFA 28.2 billion) in February 2026 and acted as anchor investor, lead underwriter and co-arranger. The equivalent of a further €22 million was raised from African investors, including local and regional banks, pension funds, insurance companies and high-net worth investors.

The bond has a 15-year term, a fixed interest rate of 8.75%, and quarterly repayments following a two-year construction grace period. The financing combines the flexibility of a bond with safeguards normally used in project finance, including first-ranking security, dedicated revenue accounts and contractual protections that separate the project’s cash flows from other activities. These measures help protect investors and align repayments with the plant’s expected revenues.

By bringing together AFC’s investment alongside capital from other African institutions through a structure that accommodates both local and international currencies, the transaction offers a potential model for financing further renewable energy and infrastructure projects across the region. Its significance extends beyond Poro Power, providing a practical example of African money financing African projects and a structure that could be replicated across the continent.

“Poro Power demonstrates that African financial institutions have both the capital and the expertise to finance large-scale renewable energy infrastructure through our own markets,” said Sameh Shenouda, Executive Board Member and Chief Investment Officer of AFC. “By combining the protections required for long-term project finance with the flexibility of capital markets, we have created a structure that can attract a broader range of African investors. This is an important model for mobilising the investment needed to expand reliable electricity supply, support industry and accelerate the energy transition across the region.”

Once operational, the plant is projected to avoid approximately 72,000 tonnes of carbon dioxide emissions annually — equivalent to taking around 15,600 petrol-powered cars off the road for a year.

The project includes a commitment to allocate €0.01 for every megawatt-hour of electricity generated towards to initiatives intended to benefit local communities.

DAKAR, Senegal, October 22, 2026/APO Group/ –Nabil Saimi, Senior Investment Director for the Project Development Fund at Africa50, will speak at MSGBC Oil, Gas & Power 2026 in December. His confirmation brings one of the continent’s leading infrastructure investors to the Dakar conference, with a focus on the earliest and most decisive phase of the project cycle: when concepts become bankable assets. Africa50’s model is built around carrying projects from development through to financing, an approach well matched to the basin’s expanding pipeline of gas, power and infrastructure projects.

 




 
 

Africa50 was set up by the African Development Bank (AfDB) alongside African governments and now has 33 shareholder states, with Senegal, Mauritania and The Gambia among them. The platform has mobilized close to $9 billion in investment across the continent, according to Senegal’s Presidency. Its Project Development business invests equity at the preparation stage to ready projects for financiers, generally targeting developments worth more than $100 million, with power, transport, midstream gas and information and communications technology as priority sectors.

Senegal has been central to Africa50’s power portfolio. At its 2017 shareholders meeting in Dakar, Africa50 partnered with national utility Senelec under a joint agreement to develop the 120 MW Malicounda combined cycle power plant and select its strategic sponsor. The €154 million plant entered commercial operation in August 2022, adding 8% to Senegal’s generation capacity, and was built with the ability to run on the country’s own gas once supply is available. In April 2026, an Africa50 delegation met President Bassirou Diomaye Faye in Dakar and reaffirmed its support for Senegal’s development priorities.

Project development is gathering momentum across the organization. In September 2026, Africa50 appointed former International Finance Corporation (IFC) regional director Cheick-Oumar Sylla as CEO of its Project Development Fund, a key appointment under its 2030 roadmap. Separately, the Alliance for Green Infrastructure in Africa Project Development Fund (AGIA-PD), managed by Africa50, secured $50 million from Italy’s Cassa Depositi e Prestiti and France’s Proparco in 2026, adding to the $118 million raised at its first close in August 2025 as the fund targets $400 million.

Africa50’s reach now extends deeper into gas and grid infrastructure across the continent. In 2026, the platform unveiled partnerships in Tanzania covering LNG and electricity transmission, while a $20 million commitment from British International Investment took its Infrastructure Acceleration Fund to roughly $330 million in total commitments. Both areas carry weight in the MSGBC basin, where LNG exports and gas-to-power plans are shaping the region’s next phase of development.

Plants such as Malicounda were built with domestic gas in mind, and the basin’s next generation of power and gas infrastructure will depend on capital committed early in development. Saimi’s participation strengthens MSGBC 2026’s focus on connecting the region’s project pipeline with the investors able to advance it.

Organized by Energy Capital & Power (ECP) and held under the High Patronage of Senegalese President Bassirou Diomaye Faye, MSGBC Oil, Gas & Power 2026 takes place December 1-3 in Dakar and will convene heads of state, ministers, investors, operators and development partners from Mauritania, Senegal, The Gambia, Guinea-Bissau and Guinea-Conakry. Explore opportunities and secure your participation at www.MSGBCOilGasAndPower.com.

DAKAR, Senegal, October 22, 2026/APO Group/ –Algeria’s Minister of Energy and Renewable Energies Mourad Adjal will participate as a speaker at MSGBC Oil, Gas & Power 2026, bringing senior government expertise on gas, power infrastructure, renewable energy and regional energy integration to the event’s investment and policy discussions. Minister Adjal joins Algeria’s Hydrocarbons Minister Mohamed Arkab at the event, taking place December 1–3 in Dakar.

 




 
 

His participation comes as Algeria advances major renewable energy and hydrogen programs while strengthening its position as a regional energy partner. The country is implementing a 15,000 MW renewable energy program through 2035, with a first phase comprising 3,200 MW of solar capacity currently underway. The program offers relevant experience for MSGBC countries seeking to expand generation capacity while integrating larger shares of renewable power into their energy systems.

Hydrogen is also becoming a major component of Algeria’s energy strategy. The country is participating in the SoutH2 Corridor, which aims to establish infrastructure linking North African hydrogen production with European markets, while the Algeria-Europe Alliance for Hydrogen is progressing toward the publication of its feasibility study results in 2027.

These developments have direct relevance to the MSGBC region, where Mauritania and Senegal are positioning themselves for large-scale green hydrogen development alongside expanding oil and gas production. The combination of new generation capacity, transmission infrastructure and export-oriented energy projects is creating growing demand for integrated regional energy systems.

Minister Adjal also brings extensive experience from Algeria’s electricity and gas sector at a time when MSGBC countries are developing gas-to-power infrastructure and cross-border energy connections. Senegal is advancing domestic gas utilisation and new power capacity, while Mauritania is combining LNG development with emerging hydrogen projects and wider plans for energy-intensive industrial development.

Before becoming minister in September 2025, Adjal served as Chairman and CEO of Sonelgaz, Algeria’s state-owned electricity and gas utility, from December 2021. He previously led the Electricity and Gas Distribution Company and held senior regional roles including President of the Mediterranean Transmission System Operators Association and Chairman of the Maghreb Electricity Committee.

His participation adds senior North African perspective to an MSGBC market increasingly focused on converting resource discoveries into producing assets, reliable power and integrated infrastructure. As Senegal, Mauritania and neighbouring markets develop gas, electricity and renewable projects, Adjal’s experience across utility-scale energy systems will contribute to discussions on building the infrastructure required for the region’s next phase of growth.

MSGBC Oil, Gas & Power will convene international operators, service companies and investors in Dakar to explore opportunities across the region’s energy sector. To secure a delegate pass or learn more, visit www.MSGBCOilGasandPower.com or email sales@energycapitalpower.com.