Dutch development bank finances 110 MW solar power plants in Burkina Faso
Post date: 23/11/2021 - 11:52
The Dutch development bank FMO (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden) has completed the financing and contractual securing of four solar power plant projects with a total capacity of 110 megawatts in Burkina Faso. The country is one of the poorest in the world, with only one-fifth of the population having access to the power grid, which in turn has so far been supplied 85 percent by diesel generators. Total domestic generation capacity (as of 2020) is only 344 megawatts, of which 60 megawatts are from renewable sources. The planned solar power plants will therefore increase the country's generation capacity by almost a third.
FMO will provide loans totaling €90 million. For three of the four plants, this will be provided by the Access to Energy Fund, which is supported by FMO and the Dutch government, and for the fourth project by the Building Prospect Fund, through which the Dutch government channels private investment into development projects. The international development funds »The Interact Climate Change Facility« (ICCF) with €21 million and Proparco with €15 million are also involved in the financing. The plants are being built near Nagréongo (near the capital Ouagadougou), Kodeni, Tenkodogo and Dédougou,