In a pioneering move toward sustainable energy and circular economy solutions, Climate Fund Managers (CFM) and Société des Energies Nouvelles (SODEN) have signed a $3 million co-development agreement to build the world’s first industrial-scale, grid-connected cocoa waste-to-energy power plant. The 76 MW Divo Biomass Project, to be located in Divo, Côte d’Ivoire, will transform agricultural waste—primarily cocoa pod husks and bean shells—into clean, renewable electricity for the national grid.
Once operational in 2029, the plant will generate approximately 550 GWh of renewable electricity annually—enough to power 1.4 million people—and avoid an estimated 300,000 tonnes of CO₂-equivalent emissions each year over a 30-year lifespan.
Transforming Waste into Opportunity
Côte d’Ivoire, the world’s largest cocoa producer, generates over 13 tonnes of organic waste for every tonne of cocoa harvested. Much of this waste currently decomposes in open air, releasing methane and accelerating plant disease. The Divo Biomass Project will repurpose this untapped resource, converting it into baseload renewable energy while reducing methane emissions and improving agricultural sustainability.
“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 biomass to generate clean, reliable energy, we’re turning a national challenge into a driver of sustainable growth, rural prosperity, and a more resilient energy system.”
Economic and Social Impact
In addition to its environmental benefits, the project is designed to deliver long-term economic and social value:
- Supports 36,000 cocoa farmers by creating new revenue streams from agricultural waste.
- Adds €6.8 million in local economic value annually through supply chains, services, and employment.
- Generates 3,900 jobs, including 3,500 during construction and 440 permanent operational roles.
“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 leveraging public capital to de-risk early-stage development, we can unlock significant private investment to deliver clean energy, rural livelihoods, and a new benchmark for future projects.”
Financing and Development
The Divo project is currently in concession negotiations with the Ivorian government and is structured as a Public-Private Partnership. SODEN has already committed over €2 million toward early development. CFM’s $3 million investment is backed by its EU-supported Climate Investor Two fund, which targets climate-resilient infrastructure in emerging markets. Financial close is expected in 2026, with up to $35 million in construction equity to follow.
Development has been underway since 2016, with early-stage funding including a $996,000 grant from the U.S. Trade and Development Agency in 2018. As part of its development phase, CFM will implement both a Child Labour Monitoring and Remediation System and an Environmental and Social Management System aligned with IFC Performance Standards.
A Strategic Contribution to Global Goals
Backed by the European Union’s Global Gateway initiative, the Divo Biomass Project supports the broader €1.5 billion Team Europe Initiative on low-carbon development in Africa.
“The investment in the 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.
Importantly, the project avoids the need for new land conversion or deforestation by utilizing existing cocoa waste and end-of-life rubber trees. It also promotes agroforestry, which improves soil health, supports biodiversity, and increases cocoa yields.
Conclusion
With its innovative model, multi-sector impact, and potential for replication, the Divo Biomass Project marks a transformative step for clean energy development in Côte d’Ivoire. It exemplifies how climate-smart infrastructure can simultaneously advance energy access, environmental sustainability, and inclusive economic growth—setting a precedent for future projects across West Africa and beyond.
Picture for illustration purposes only: Drax Power Station – biomass infrastructure, Camblesforth, North Yorkshire, England Copyright Chris Allen
