Burkina Faso, a West African country, will acquire a new large-scale renewable energy plant, it was announced today, 15e March. Located some 250 km southeast of the country’s capital, Ouagadougou, near the town of Pâ, the new solar power plant will supply all the electricity it produces to Burkina Faso’s national electricity company, La Société Burkina Faso National Electricity Authority (SONABEL). The Emerging Africa Infrastructure Fund (EAIF), a member of the Private Infrastructure Development Group (PIDG), is lending the project developer, Urbasolar SAS, 80% of the capital required for the construction of the new 30 MW facility. The EAIF is the only lender of the project, providing 29 million euros of the 35.4 million euros of estimated development costs. Financial close (the transfer of funds from lender to borrower) is scheduled for the second quarter of the year. Paromita Chatterjee, director of investments at EAIF managers, Ninety One, says; “Harnessing […]
First green energy project in Burkina Faso for the Private Infrastructure Development Group (PIDG) company Emerging Africa Infrastructure Fund - NNN.
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