IFC considers financing solar project in Burkina Faso

The International Finance Corporation (IFC) is mulling financing the construction of a 26.8-MW Solar Power Plant in Burkina Faso.

The project estimated total cost is approximately €38 million (US$42.7 million). The proposed IFC investment includes an IFC A loan of up to €12 million and risk management products (interest and cross currency swaps). In addition, IFC intends to mobilize the remaining balance of the debt required for the project, including a senior concessional loan of up to €10 million from IFC as implementing entity of the IFC-Canada Climate Change Program (IFC-CCCP).

The project consists of the development, financing, construction, operation and maintenance of a 26.8 MWp solar PV power plant in Zina, Mouhoun Region, and it will be connected to the national grid via a 7.8 km transmission line.

Windiga Energy, the project sponsor, announced in October 2014 the signature of a 25-year power purchase agreement (PPA) with the National Electricity Company of Burkina Faso (SONABEL).