Ivoire Hydro Energy (IHE), a Côte d'Ivoire power energy company, is expecting to receive 174 million euros ($198.4 million) in capital commitments from Nigerian infrastructure development company Africa Finance Corp. (AFC).
With the investments, IHE will construct a 44 megawatts Singrobo-Ahouaty hydroelectric power project (SAHP) and associated infrastructure in Côte d'Ivoire.
AFC said that its commitment comprises of a majority equity investment of $27.8 million and a bridge credit facility of $170.6 million.
The SAHP, which will be built by French construction firm Eiffage, will boost the country’s overall power capacity as well as reduce generation costs.