Ivory Coast

Côte d'Ivoire has a population of approximately 33 million and a nominal GDP of US$99.77 billion in 2025. Over the past decade, it has consistently ranked among Africa's fastest-growing economies, supported by a diversified economic base spanning agriculture, manufacturing, trade, transport and services. Cote D’Ivoire is the world's largest producer and exporter of cocoa, a key driver of the agriculture industry which contributed 14.8% to the country’s GDP in 2023 and employs 45% of the country’s workforce. As of 2023, the entire extractive sector contributed about 3.1% to the GDP, 16% to total export values, and 2.9% to government revenues in 2023.

Energy plays a slightly lesser role than Agriculture but remains an important driver of the economy nonetheless. Gas, for example, acts as feedstock for the gas-fired power plants in the country to provide power that drives both domestic and industrial activities. Since the commencement of gas production in 1995 through the Panthere field, the country has leveraged domestic gas production to fuel its power plants. The commissioning of phase 1 of the Baleine offshore field in 2023 and its potential ramp up through phase 2 and phase 3 presents a new dimension to the country’s economic development. At the expected peak gas production of 200 million cubic feet per day (MMSCFD), the asset will almost double the country’s overall gas output, more than enough to supply its power plants. The surplus presents two investment opportunities for Cote D’Ivoire - investments in new gas-fired power plants to consume the gas or gas exports. Regardless of the option or combination of options that drive the country’s economic strategy, oil and gas is poised to play an increasingly important role in the economic output of the country within the next decade.

The electricity system in Côte d'Ivoire is built primarily around natural gas and hydropower, accounting for about 66% and 30% of generation capacity respectively while solar and bioenergy supplies about 3%. As of 2025, the total installed electricity generation capacity is estimated at 2,922MW consisting of 1,959 MW in gas-fired power plants and 879MW in hydropower. Recent advancement in solar capacity has added 37.5 MW through the Boundiali Solar Power Plant and the Biovea Biomass Power Plant commissioned in 2026 added 46 MW of biofuel capacity. Biovea was the country’s first utility scale biofuel power plant and converts agricultural palm waste into energy injected into the national grid.

The need for increased electricity supply is exemplified by the increasing energy access across the country primarily driven by the government-led programme Programme Électricité Pour Tous (PEPT) launched in 2014 with the goal of universal access. As of 2014, 61.9% of the country had access to electricity and by 2023, that number increased to 72.4%. As access continues to grow, electricity demand is expected to grow as well providing a strong basis for investment opportunities across the power value chain.

While continued investments and efforts pour into gas production for exports and domestic power, a number of projects across other energy sources are being promoted by the country. The expansion of the Boundiali solar power plant is currently underway while the country looks to tap into its 7GW of hydropower potential to develop the Gribo-Popoli Hydropower plant. The third phase of the Baleine field development is also underway to supply increased gas volumes to existing and planned gas plants, two of which have achieved financial close in 2026 - Songon gas power plant and Genser power plant. These projects under development represent an additional 997.4 MW in capacity which would increase the country’s total installed capacity by 25.45%. This is indicative of the country’s long term focus of maintaining a diversified energy mix with the target of increasing the share of renewable energy to 42–45% by 2030.