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In the past 5 years, how has the energy structure changed, and what are the main driving factors?
The energy structure of Côte d’Ivoire mainly comes from thermal power generation. There are four major thermal power plants in the country: Azito, Ciprel, Aggrekko and Vridi. The main source is natural gas. However, Côte d’Ivoire’s natural gas production cannot meet the electricity demand of domestic thermal power plants. The remaining natural gas is mainly imported from Nigeria.
The Ivorian government is determined to change this situation by transforming the country into a regional LNG import center in West Africa to meet regional and domestic demand. To this end, the government participated in the construction of a terminal with a floating storage and regasification unit (FSRU) in Vridi, south of Abidjan, with an annual capacity of 3 million tons, and a pipeline connecting the FSRU and the regasification unit. The existing and planned power plant in Abidjan. This will also flow into the regional market connected to the Côte d’Ivoire network.
Many other projects are underway to diversify the energy structure. These include: Atinkou (Ciprel V) 390 MW gas-fired power generation project, Azito thermal power plant (250 MW expansion), Songon (372 MW) and hydroelectric dam, Singleobo (44 MW), Louga (283 MW), Boutoubré (156 MW)) , Tiboto (220 MW) and Tayaboui (100 MW). But at present, heavy fuel oil and distillate diesel are the main backup fuels.
The undeveloped hydropower potential is estimated at 7000 MW, of which 1847 MW has potential economic development. As part of the country's 2020 plan, seven new hydropower projects with a total capacity of 1,150 MW have been announced.
The government is also very interested in the development of micro grids, and photovoltaics are very suitable for this type of grid. For example, street lighting with solar panels has been implemented. However, the country still does not have solar power plants.
Côte d’Ivoire plans to produce 20% of sustainable energy in its energy mix by 2030. It also hopes to reduce the share of fossil fuels to 66% and increase the share of renewable energy (mainly hydropower) in electricity production to 34%.
What is the outlook for the energy and natural resources industry in the next 5 years? especially:
The Côte d’Ivoire government currently does not intend to carry out any reforms in the energy sector.
However, the following projects are expected by 2030:
In recent years, Côte d’Ivoire has introduced a set of legislative and regulatory texts aimed at managing the energy sector. However, these texts need to be updated to better align with the development of the department.
In addition, since 1990, the state has granted the national power company Compagnie Ivoirienne d'Electricité (CIE) the exclusive right to transport and distribute electricity. This monopoly does not encourage the emergence of new players in the power sector. Fair competition can further help diversify the energy structure.
The expected role of renewable energy and/or new technologies
Today, private operators in Côte d’Ivoire are currently responsible for 70% of energy production and 100% of distribution. It is estimated that by 2035 the grid will cover 99% of the population and 42% of the energy will come from renewable energy sources (26% of large hydropower and 16% of “others”-solar biomass, small hydropower and wind).
The National Renewable Energy Action Plan outlines plans for installed capacity (MW) and power generation (GWh). These forecasts seem very ambitious, partly because they provide high-capacity factors for hydropower (60% for small and 46% for large) and biomass (84%), but they show that 42% of the target is power generation ( MWh).
What are the main investment opportunities in energy and natural resources in the next 5 to 10 years?
The Minister of Energy of Côte d’Ivoire recently announced an estimate of the discovery
Just 50 kilometers south of Abidjan, there are 2 billion barrels of oil and approximately 2.4 trillion cubic feet (51 million cubic meters) of natural gas. So far, Côte d’Ivoire has identified 51 oil fields, of which 4 are in production, 26 are under exploration, and the remaining 21 are still in competition. This provides the company with more exploration, drilling and storage opportunities. In addition, as the country’s coal-fired power plants that use natural gas and liquefied natural gas terminals are being finalized, providing equipment to these industries provides more opportunities for investors.
Overall, as the country hopes to expand the use of renewable energy and local power plants in rural areas, investors should look forward to opportunities in the energy sector of Côte d’Ivoire, including power generation/production, transmission and distribution.
Particular attention is paid to sustainability and carbon emission reduction. How will the energy and natural resource pattern change in the next 5 to 10 years?
The government of Côte d’Ivoire hopes to develop photovoltaic energy by building solar power plants in the north of the country, and to increase hydroelectric power generation capacity by strengthening production units.
These measures will reduce carbon dioxide emissions and increase the diversity of hybrid energy sources by focusing on green energy. Based on the optimistic development of energy and natural resources in the past five years, the above-mentioned view is realistic and achievable.
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