Côte d’Ivoire’s solar energy investments open new opportunities for African businesses and international investors

By Maryanne Opene

Côte d’Ivoire is accelerating its investment in solar energy, creating new opportunities for businesses, investors and local entrepreneurs as the West African nation seeks to expand electricity access, strengthen its power supply and attract private capital into renewable energy.

Two major solar projects advanced in the country this week, highlighting the growing role of private investment in the expansion of its energy infrastructure. The developments also signal a wider commercial opportunity for companies operating across construction, engineering, equipment supply, energy services and project financing.

In northern Côte d’Ivoire, construction plans for a 50-megawatt solar power plant in Katiola moved forward following the laying of its foundation stone on October 22. The project is expected to provide electricity access to more than 300,000 people, with completion anticipated approximately 15 months after the ceremony.

A separate 52-megawatt solar project in Tongon, in the M’Bengué department, was launched on October 23. Valued at approximately 33 billion CFA francs, the project is expected to supply electricity to around 300,000 people and generate nearly 500 jobs during construction. Its commissioning is scheduled for 2028.

These developments form part of Côte d’Ivoire’s broader plan to increase renewable energy capacity and diversify its electricity mix. The government aims to raise the share of renewable energy to 45 per cent by 2030, with solar power expected to play an increasingly important role.

For businesses, the expansion represents more than a shift towards cleaner electricity. It opens up a growing market for companies that can provide the equipment, technical expertise, services and financing needed to build and maintain large-scale energy projects.

Solar developments require a network of suppliers and service providers, including manufacturers and distributors of panels, inverters, cables, mounting structures, batteries and electrical components. Construction companies, logistics operators, engineers and maintenance specialists can also find opportunities throughout the project lifecycle.

Local businesses could benefit from these requirements if they can meet technical standards, offer competitive prices and establish relationships with project developers. Even companies that do not manufacture solar equipment may participate through transportation, warehousing, security, catering, accommodation and other services needed during construction.

The projects also demonstrate the importance of partnerships between governments, private developers and international investors. Building utility-scale solar facilities requires substantial upfront capital, technical planning and long-term arrangements for selling the electricity generated.

For investors, such projects offer exposure to a market where electricity demand is expected to rise alongside industrial activity, urbanisation and population growth. However, returns depend on factors such as construction costs, financing conditions, regulatory stability, grid connections and the ability of electricity buyers to meet contractual obligations.

Côte d’Ivoire has increasingly relied on private-sector participation to support its energy expansion. Public funding alone is unlikely to cover the scale of investment required to increase generation capacity while extending electricity access to underserved communities.

The government’s strategy therefore creates an opening for domestic and foreign companies with the capacity to develop projects, supply equipment and provide specialised services. It also places greater importance on ensuring that local businesses can participate in the supply chains created by new investment.

Employment is another important consideration. Construction activities can generate temporary jobs for technicians, engineers, drivers, labourers and other workers, while completed facilities require smaller teams to manage operations, maintenance and repairs.

The long-term economic value will depend partly on how effectively these opportunities translate into skills development, local procurement and sustainable employment. Businesses that invest in technical training and develop reliable service capabilities may be better positioned to secure contracts as the market expands.

For neighbouring African economies, Côte d’Ivoire’s solar investments offer a useful example of how renewable energy can create opportunities beyond electricity generation itself. Regional suppliers and service companies may be able to participate where they can meet project requirements and compete with established international providers.

However, the expansion also faces practical challenges. Solar power generation depends on the availability of suitable sites, reliable transmission infrastructure, efficient procurement and access to affordable financing. Increasing generation capacity does not automatically guarantee that electricity will reach every community or business that needs it.

The performance of the wider electricity network will therefore remain important. As new solar plants come online, transmission and distribution systems must be capable of handling additional power and delivering it to consumers efficiently.

Businesses will also need to assess the commercial realities of entering the sector. Equipment imports, foreign exchange movements, borrowing costs and competition can affect project budgets and profit margins. Smaller companies may require partnerships, financing or specialised training before they can compete for larger contracts.

Despite these challenges, Côte d’Ivoire’s expanding solar programme creates a potential growth market for companies prepared to build the necessary expertise and maintain strong commercial relationships. The opportunity extends from direct participation in energy projects to the broader network of businesses supporting their development.

As the country works towards its 2030 renewable energy target, the central business question will be whether rising investment can create a competitive domestic supply chain alongside additional generating capacity. That outcome will depend on how effectively investors, policymakers and local enterprises turn new projects into lasting commercial opportunities.

The developments underline an important point: the energy transition is not only about producing electricity from cleaner sources. It is also about building the industries, skills and services needed to support that transformation and ensuring that local companies can participate in the economic value it creates.