AfDB to help finance 50MW PV portfolio in Burkina Faso

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
As part of this financing, the AfDB will support the North Dorsal electrification project, which will connect Burkina Faso with Nigeria, Nigeria and Benin. Image:

The president of African Development Bank (AfDB),  Akinwumi Adesina, arrived in Burkina Faso’s capital city of Ouagadougou and pledged to financially support a 50MW PV portfolio to electrify rural areas within the country, per AllAfrica.com.

Burkina Faso's head of state, Roch Marc Christian Kaboré, noted: “We are hoping that the support of the African Development Bank will have a great impact. We want to work more closely with you so that together we can enable the greatest number of people in Burkina Faso to have access to electricity. We also want to set up agricultural projects that employ people in rural areas, especially young people.”

As part of this financing, the AfDB will support the North Dorsal electrification project, which will connect Burkina Faso with Nigeria, Nigeria and Benin.  In addition, it will help co-finance several large-scale PV projects for a combined capacity of 50MW — with the installations co-financed by the French Development Agency (AFD).

Adesina noted: “I am very satisfied with the macroeconomic situation in Burkina Faso and the country's growth rate, which is one of the highest in Africa. I can confirm that cooperation between your country and the AfDB, which is already outstanding, will increase in the agriculture and energy sectors, which play a strategic and pivotal role.

“We fully support the Government's efforts in the fight against insecurity,” the Bank President added. “We pledge to assist Burkina Faso with sustainable funding and to enable the creation of an agricultural bank, on-site cotton processing and the creation of real growth hubs. We will also promote job creation for young people,”

Read Next

June 16, 2021
Berkeley Energy has raised €130 million in the first close of the Africa Renewable Energy Fund II
June 14, 2021
Mozambique-based coal operator Ncondezi Energy has announced a joint venture (JV) with South African-based NESA to target South Africa’s C&I solar and storage markets.
April 26, 2021
Solar developer ACWA Power has secured a total US$114 million from financial institutions to fund the construction of what it claims will be Egypt’s largest private solar plant.
April 14, 2021
Independent energy trader BB Energy (BBE) has set its sights on Africa’s solar and storage market by acquiring Solarcentury’s Africa-facing division for an undisclosed sum.
March 4, 2021
A round-up of the latest solar project news from around the world, including updates from Hanwha Q CELLS and Capital Dynamics.
February 1, 2021
Hydropower plants across Africa could double their capacity if just 1% of their reservoirs are used to install floating solar projects, new research suggests.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
July 6, 2021
Solar Media Events
August 24, 2021
Solar Media Events, Upcoming Webinars
October 6, 2021