Burkina Faso makes headway towards 110 MWp of new solar PV capacity

Last week, the Dutch entrepreneurial development bank, FMO, announced the completion of financing and contracting for 110 MWp of solar PV capacity in Burkina Faso. In total, four different solar projects are now entering the construction phase: Kodeni Solar (38 MWp), Nagreongo-SPES Ouagagoudou (30 MWp), Quadran Burkina Faso (24 MWp) and Dedougou Solar (18 MWp).

FMO is the prime lender to all projects, representing 52% to 65% of the debt raised for each facility. Its co-financiers include Proparco, the private sector financing arm of the French Development Agency (AFD), and the Interact Climate Change Facility (ICCF), a European co-financing vehicle notably involving the AFD, BIO, DEG, Finnfund, Norfund, OeEB, Proparco, SIFEM and Swedfund.

FMO is proving a total of €90m for the projects, while the ICCF is providing €20.9M and Proparco the remaining €15.9m.

The S.P.E.S Ouagadougou facility in Nagréongo remains the most advanced of the four projects. It officially broke ground in October 2020 during a ceremony presided over by Minister of Energy Dr. Bachir Ismaël Ouedraogo.

Out of 344 MW of grid-connected generation capacity in Burkina Faso last year, only 60 MW was from renewable energy sources. By the time all new solar plants are completed and operational, the country’s total installed power generation capacity will have climbed to 456 MW. Almost 38% of the country’s energy mix will then rely on renewable energy.

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