EIB to back expansion of Burkina Faso PV park to 50 MW

The European Investment Bank (EIB) will extend EUR 38.5 million (USD 46.6m) in debt for a project that will lift by a third the power generation capacity of a 37-MW solar park in Burkina Faso.

The photovoltaic (PV) park is being operated by Burkina Faso's national electric utility Sonabel, the lender said on Thursday. The utility has committed to invest EUR 70.5 million in an expansion scheme that aims to raise the capacity of the plant to 50 MW and thus help it response to the 10% annual increase in power demand. The project will also back Sonabel's efforts to lower the need for electricity imports.

According to the EIB, the electricity supply in Burkina Faso is currently restricted by the limited interconnector capacity used to import power from southwestern neighbor Cote d’Ivoire.

(EUR 1.0 = USD 1.210)

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