• Energy Access: Will generate 550 GWh of clean electricity annually—enough for 1.4 million people.
• Carbon Reduction: Expected to avoid 300,000 tCO₂e emissions annually for 30 years starting 2029.
• Farmer & Local Benefit: Supports 36,000 cocoa farmers with new income streams and adds €6.8M in local economic value per year.

Climate Fund Managers (CFM) and Société Des Energies Nouvelles (SODEN) have signed a $3 million agreement to co-develop the world’s first industrial-scale, grid-connected cocoa waste-to-energy power plant, located in Divo, Côte d’Ivoire. Once operational, the 76 MW Divo Biomass Project will convert 600,000 tonnes of agricultural waste per year—including cocoa pod husks and bean shells—into renewable electricity for the national grid.

“This project demonstrates the vital role of blended finance in bringing complex, first-of-its-kind infrastructure to life in frontier markets like Côte d’Ivoire,” said Darron Johnson, Regional Head of Africa at CFM. “By using public capital to fund early-stage development, we can unlock private capital at scale—delivering not only clean energy and rural livelihoods, but also setting a precedent for future investment in the country.”

The project, currently in concession negotiations with the Ivorian government, is structured as a Public-Private Partnership. SODEN has already committed over €2 million to advance the initiative, with the latest investment from CFM sourced from its Climate Investor Two fund—an EU-backed blended finance facility targeting water, waste, and ocean infrastructure in emerging markets. Financial close is expected in 2026, with up to $35 million in equity from CFM’s Construction Equity Fund to follow.

The plant will:

• Provide renewable baseload energy, avoiding reliance on traditional fuels.
• Generate €6.8 million in local economic activity annually for three decades.
• Create 3,900 jobs—including 3,500 during construction and 440 permanent roles.
• Support 36,000 smallholder cocoa farmers with new revenue from waste materials.

“The Divo plant offers an innovative and scalable solution to Côte d’Ivoire’s energy and climate goals,” said Yapi Ogou, CEO of SODEN. “By harnessing this untapped resource to generate clean, reliable energy, we’re turning a national challenge into an opportunity for sustainable growth, rural prosperity, and a more resilient energy system.”

Backed by the EU’s Global Gateway strategy, the project contributes to a wider €1.5 billion Team Europe Initiative on low-carbon development. The initiative reflects a growing global interest in circular economy models and sustainable rural development.

“The investment in Divo Biomass Plant…illustrates our comprehensive approach to tackling critical challenges such as climate change, deforestation, and rural job creation,” said Francesca Di Mauro, EU Ambassador to Côte d’Ivoire.

Côte d’Ivoire, which supplies over 45% of the world’s cocoa, faces major waste management and sustainability challenges. For every tonne of cocoa harvested, more than 13 tonnes of organic waste are produced. Traditionally, this biomass decomposes at the farm gate—releasing methane and contributing to plant disease.

The Divo Project will:

• Convert waste into energy, reducing methane emissions.
• Eliminate the need for land conversion or deforestation by using existing waste and end-of-life rubber trees.
• Promote agroforestry, improving soil health and crop yields.

In development since 2016, the project received early-stage support including a $996,000 grant from the U.S. Trade and Development Agency in 2018.

As part of its development phase, CFM will also implement a Child Labour Monitoring and Remediation System and an Environmental and Social Management System aligned with IFC Performance Standards.

With sustainability, innovation, and scale, the Divo Biomass Project signals a new era for clean energy investment in Côte d’Ivoire—and sets a precedent for how climate-smart infrastructure can drive long-term value across energy, agriculture, and community development.

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