EU backs West African solar project with €23m loan

A solar power project in sub-Saharan Africa is getting a €23 million (£18m) loan from an EU bank. The European Investment Bank’s (EIB) 20-year loan will support a 30MW solar […]

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By Priyanka Shrestha

A solar power project in sub-Saharan Africa is getting a €23 million (£18m) loan from an EU bank.

The European Investment Bank’s (EIB) 20-year loan will support a 30MW solar facility in Zatouli, located on the outskirts of Ouagadougou, the capital of Burkina Faso.

The solar plant will be operated by the country’s national utility Sonabel and will significantly increase energy production in the nation. It will also help reduce imports from Ivory Coast and Ghana as well as prevent power cuts, the EIB said.

Pim van Ballekom, EIB Vice President said: “Electricity in essential for economic activity and the European Investment Bank is committed to supporting energy investment that will improve lives across Africa.”

The EIB has provided nearly €200 million (£157m) for investment in energy, transport and water projects in Burkina Faso since 1970.