Sonabel secures EUR38.5 million fund for the 50 MW Sonabel solar PV project in Ouagadougou

The European Investment Bank has lent EUR38.5 million (US$46.53 million) financial and technical support to the solar power plant operated by national electricity authority Sonabel, in Ouagadougou, Burkina Faso, West Africa.

The EIB backing will help expand the capacity of the project from 37 MW today to 50 MW.

The EUR70.5 million (US$46.53 million)scheme will increase domestic electricity production to address the 10% annual increase in demand and reduce the need for imports. The electricity supply in Burkina Faso is currently restricted by the limited interconnector capacity used to import power from Cote d’Ivoire.