In a significant step toward clean energy innovation and sustainable rural development, 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 in Divo, Côte d’Ivoire. This groundbreaking initiative is set to transform agricultural waste—particularly cocoa pod husks and bean shells—into renewable electricity, reinforcing the role of circular economy models in addressing climate and energy challenges in frontier markets.

The 76 MW Divo Biomass Project will convert approximately 600,000 tonnes of agricultural waste annually into clean electricity, generating 550 GWh each year. That’s enough to power 1.4 million people while avoiding 300,000 tonnes of carbon dioxide equivalent (tCO₂e) emissions per year over a 30-year period beginning in 2029. The project is a key milestone in Côte d’Ivoire’s ambition to boost energy access, reduce carbon emissions, and support the livelihoods of rural communities.

Structured as a Public-Private Partnership, the Divo project is currently in concession negotiations with the Ivorian government. SODEN has already contributed over €2 million to the project, while CFM’s latest investment comes through its Climate Investor Two fund—an EU-backed blended finance facility focused on water, waste, and ocean infrastructure in emerging markets. The financial close is anticipated in 2026, after which up to $35 million in equity from CFM’s Construction Equity Fund will be mobilized to move the project forward.

Darron Johnson, Regional Head of Africa at CFM, emphasized the critical role of blended finance in bringing pioneering projects like this to life. “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. 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,” he stated.

Côte d’Ivoire, the world’s largest cocoa producer, generates massive volumes of organic waste from cocoa production—over 13 tonnes of biomass for every tonne of cocoa harvested. Traditionally, this waste decomposes in fields, releasing methane and fostering plant diseases. The Divo Biomass Plant will intercept this waste stream and convert it into reliable baseload renewable energy, thereby reducing greenhouse gas emissions and eliminating the need for deforestation or new land use.

Beyond energy generation, the plant is expected to create lasting socioeconomic benefits. An estimated 3,900 jobs will be created through the project—3,500 during construction and 440 permanent roles once operational. The initiative will directly benefit 36,000 smallholder cocoa farmers by offering new income streams from biomass previously discarded. Additionally, the project will add €6.8 million annually to the local economy, supporting community development and rural prosperity over the course of three decades.

“This project 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.”

The initiative aligns with the European Union’s Global Gateway strategy and forms part of a broader €1.5 billion Team Europe Initiative focused on low-carbon development. Francesca Di Mauro, EU Ambassador to Côte d’Ivoire, noted, “The investment in the Divo Biomass Plant illustrates our comprehensive approach to tackling critical challenges such as climate change, deforestation, and rural job creation.”

Developed since 2016, the project also received a $996,000 grant from the U.S. Trade and Development Agency in 2018 to support its early-stage design and feasibility studies. As it enters advanced development stages, CFM will implement robust safeguards including a Child Labour Monitoring and Remediation System, as well as an Environmental and Social Management System in line with International Finance Corporation (IFC) Performance Standards. These frameworks will ensure that the project adheres to best practices in ethical sourcing, community engagement, and environmental sustainability.

By leveraging innovation, sustainability, and public-private collaboration, the Divo Biomass Project is set to redefine clean energy investment in Côte d’Ivoire. It stands not just as a power plant, but as a model for integrated infrastructure that delivers climate benefits, economic resilience, and inclusive development—all rooted in the transformation of agricultural waste into a resource for national progress.