Ivory Coast studies first cocoa-fired power station

A farmer works at a cocoa farm at Guire, a village of Soubre, in southwestern Ivory Coast. The west African country plans to build a power station fired by cocoa production waste. (Reuters)
Updated 03 July 2018

Ivory Coast studies first cocoa-fired power station

  • Ivory Coast cocoa production waste amounts to 26 million tons mainly pods from which the beans have been extracted
  • The plant would be built in the center of the west African nation at Divo and generate 60-70 megawatts

ABIDJAN: Abidjan wants to build the world’s first biomass power station fired by cocoa production waste, Ivory Coast and US officials said Monday.
If the €235-million ($273-million) scheme gets the go-ahead, Ivory Coast, the world’s top cocoa grower, could go on to construct nine more power stations burning cocao waste.
The first plant could be up and running in 2023, said Yapi Ogou, the head of the Société des énergies nouvelles (Soden or New Energies Company) which is in charge of the project.
The US Trade and Development Agency (USTDA) has financed a million dollars of feasibility studies which should be completed by next April.
Ivory Coast cocoa production waste amounts to 26 million tons, mainly pods from which the beans have been extracted, Ogou said.
The plant would be built in the center of the west African nation at Divo and generate 60-70 megawatts, he added.
Ivory Coast currently generates 2,200 MW but strong economic growth has put a strain on supplies.
The new cocoa waste plant would also save the equivalent of 250,000 tons of carbon di-oxide emissions, Ogou said.
A US trade delegation led by under secretary of commerce Gilbert Kaplan is visiting Ivory Coast and USTDA has re-opened an office in Abidjan after a 16-year gap.
Abidjan’s commerce minister Souleymane Diarrassouba said trade between the two countries had expanded 55 percent from 2012-2017 to reach 1.8 billion dollars.
Setting a target of three billion dollars by 2025, he urged US business “to invest massively in Ivory Coast.”


Iran rial slides to new low as coronavirus, sanctions weigh

Updated 04 July 2020

Iran rial slides to new low as coronavirus, sanctions weigh

  • The dollar was offered for as much as 215,500 rials, softening from 208,200 on Friday
  • The rial lost about 70% of its value in the months after May 2018 as Iranians snapped up dollars

DUBAI: The Iranian rial fell to a new low against the US dollar on the unofficial market on Saturday, as the economy comes under pressure from the coronavirus pandemic and US sanctions.
The dollar was offered for as much as 215,500 rials, softening from 208,200 on Friday, according to foreign exchange site Bonbast.com. The economic daily Donya-e-Eqtesad’s website gave the dollar rate as 215,250, compared with 207,500 on Friday.
In May 2018, President Donald Trump withdrew the United States from a multilateral deal aimed at curbing Iran’s nuclear program and reimposed sanctions that have since battered the economy.
A drop in oil prices and a slump in the global economy have deepened the economic crisis in the country, which also has the highest death toll in the Middle East from the pandemic.
The rial’s decline has continued despite assurances from Iranian Central Bank Governor Abdolnaser Hemmati last week that the bank had injected hundreds of millions of dollars to stabilize the currency market.
The rial lost about 70% of its value in the months after May 2018 as Iranians snapped up dollars, fearing Washington’s withdrawal from the nuclear deal and sanctions could shrink vital oil exports and severely impact the economy.
The official exchange rate is 42,000 rials per dollar and is used mostly for imports of state-subsidised food and medicine.