Biovéa Énergie SA, a special purpose vehicle company, has been awarded the concession contract to design, finance, construct, operate and maintain the power station.

[1] The power plant is under construction in the village of Ayebo, in Aboisso Department, Comoé District, Sud-Comoé Region, in southeastern Ivory Coast.

[1][4] The power station will burn palm oil waste, sourced from 12,000 Ivorian farmers, to heat water and produce steam.

The owners formed a special purpose vehicle that owns and plans to operate and maintain the power station after completion.

Meridiam was assigned the financial role, while Biokala is responsible for the supply chain of the palm oil waste.

[8] As a byproduct, the plant will produce ash that is rich in potassium, to be used as fertilizer by the farmers, increasing yields of palm oil and other food crops.