• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    To Our Dedicated Readers…
    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
    ….as it strives to Exploit its Supplies of Fossil Fuels £19 Billion Gas Pipeline would pass…13 Countries
    In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan
    African Leaders Lift-off African School of Governance…
    Zimbabwe in Alacrity to Participate in the Forthcoming Minerals Africa Summit in Cape Town South Africa
    Rwanda’s MPs in the Lower House started Nationwide Assessment on progress of the Agricultural Outreach season
    $2.8 Million has been Vitally signed by Grid Africa as an Equity Investment from Rifuwo Energy Partners
    The Elected African Table Tennis Federation Executive Council Agreed on a Memorandum of Understanding with Ethiopian Airlines

    Burkina Faso to receive large-scale Renewable Energy Plant

    Posted On 16 Mar 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 10

    By Abdul Rahman Bangura–

    Photo Credit: Climate action

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone– Published on Monday March 15th, 2021, Burkina Faso is to obtain a new large-scale renewable energy plant, Located some 250km South-East of the country’s capital city of Ouagadougou, close to the town of Pâ. The new solar energy plant will provide all the electricity it delivers to Burkina Faso’s national power utility, La Société National D’électricité Du Burkina Faso (SONABEL).

    The Emerging Africa Infrastructure Fund (EAIF), is a member of the Private Infrastructure Development Group project is entrusting the project’s developer, Urbasolar SAS, 80% of the capital required for the construction of the new 30MW facility. EAIF is the sole lender to the project, providing €29 million of the estimated €35.4 million development cost. Financial close (the transfer of funds from lender to borrower) is expected by the second quarter of the year.

    Paromita Chatterjee, an Investment Director at EAIF’s managers, Ninety One, says; “Harnessing Burkina Faso’s sunshine to improve its futurists will bring many benefits to the country and make an important contribution to fighting global warming. This project is a perfect example of how EAIF’s public private partnership model can have lasting economic, social and environmental impacts while mobilizing private capital and enterprise to create new infrastructure.”

    EAIF has now funded twenty renewable energy projects across Africa. It has subsidized $350 million of loans to private sector developers, bringing Africa 825MW of clean, renewable energy.

    Remarking on the project, Arnaud Mine – President of Urbasolar and Emmanuel Kaboré, Urbasolar Regional Head – West Africa, stated; “As a European expert in solar power, the Urbasolar group is conscious of its role in
    developing this energy source in Africa, notably in Burkina Faso, where we already operate. It is Urbasolar’s conviction that the solar power sector offers solutions to numerous economic, environmental and social issues. Therefore, in addition to providing green energy, this project also includes a number of other measures such as
    education regarding solar technology, the provision of study grants and a micro financing program for local women, as well as support for the healthcare system.

    “This project is the result of the willingness of the Burkinabé President, Rock Marc Christian Kabore, and the government to increase the country’s energy supply by promoting private investment through public-private partnership. We are pleased to be able to work alongside the government and the national energy utility, SONABEL, to reach the goal of generating 200 MW of energy via solar power plants by 2021, the strategy established by Dr Bachir Ismael OUEDRAOGO, Minister of Energy, Mines and Quarries.

    “EAIF’s experience in the renewable energy sector in Africa is a considerable asset for developers like Urbasolar. We are pleased to share our own values of Sustainable Development and to collaborate with EAIF on this project, which demonstrates our shared goal of long-term infrastructure development in rapidly developing regions.”

    Burkina Faso virtually has a population 20 million people. Over 40% of the people, live below the poverty line. The nation has one of the world’s lowest rates of electrification. Thus, a shortage of installed energy generation capacity, Burkina Faso desires to import electricity from neighboring states. Urbanization, structural modifications to the economy and recent strong GDP growth have improved yearning for energy. Presently, relying largely on fossil fueled power stations, the country has embarked on a programme of enticing private capital and expertise to build renewable energy capacity. The Urbasolar project is one of the first of the new green energy plants. Around 280MW is expected to be commissioned over the next three years.

    Urbasolar was selected as the developer following a competitive tender process run by SONABEL. Urbasolar will build and operate the plant and construction is predicted to be finalized within eighteen months.

    Established in France in 2006, Urbasolar has installed over 650 PV plants and now regulates solar plants of over 900MW. Urbasolar is contributing 20% of the project’s capital. It is the majority shareholder in the Pâ facility. A few stake is held by Project Production Solaire (PPS). Founded as a specialist renewable energy and energy efficiency business in 2010 by a group of Burkinabé engineers, PPS operates in Burkina Faso as well as Togo, Ivory Coast and Benin.

    In July 2019, Urbasolar was acquired by AXPO, a Swiss utility and Switzerland’s largest producer of renewable energy.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    Facebook: newafricabusinessnews.com

    Email: Info@newafricabusinessnews.com

    AFRICA’S MOST READ AND FASTEST GROWING GLOBAL NEWSPAPER – www.newafricabusinessnews.com

     

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    Zambia’s President Lungu Encouraged ZARI to Promote Growers with better seed variations in a bid to foster bumper Harvest on their Farming Enterprise

    Next Story

    Benin and Nigeria Collaborate to Boost Rice Production

    10 Comments

    1. Micheal March 16, 2021 at 4:26 am Reply

      Many thanks for the daily newsletters. Love it. London, England. Micheal

      • New Africa Business News, Staff Correspondent March 16, 2021 at 4:28 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Joe March 16, 2021 at 4:32 am Reply

      Thanks for the report. Great news for the Burkinabé hard working people. Joe in Nairobi Kenya

      • New Africa Business News, Staff Correspondent March 16, 2021 at 4:32 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Edward March 16, 2021 at 4:37 am Reply

      Extremely glad for Burkina Faso’s new solar projects. Is going to help greatly with the energy demand. Edward in Lagos, Nigeria

      • New Africa Business News, Staff Correspondent March 16, 2021 at 4:38 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Francis March 16, 2021 at 4:42 am Reply

      With the abundancy of solar energy in that part of Africa, should greatly help ease energy need to them. Berlin in Germany. Francis

      • New Africa Business News, Staff Correspondent March 16, 2021 at 4:43 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. Godfrey March 16, 2021 at 4:49 am Reply

      Thank you, journalist Bangura and your teams, with the reports. You guy’s online newspaper is growing faster than expected. Godfrey in Johannesburg SOUTH AFRICA

      • New Africa Business News, Staff Correspondent March 16, 2021 at 4:50 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    To Our Dedicated Readers...

    Posted On 04 Nov 2024

    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education

    Posted On 04 Nov 2024

    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023

    Posted On 04 Nov 2024

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    Africa Leader of the Year 2023-2024, Rwanda's President Paul Kagame

    Posted On 21 May 2024

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 15 Feb 2024

    Peace making leader. Congrat Paul...

    Posted On 15 Feb 2024

    Thanks for reading, Africa’s fastest...

    Posted On 15 Feb 2024

    Facebook

    Latest Posts

    To Our Dedicated Readers...

    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education

    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023

    Recent Posts

    • To Our Dedicated Readers…
    • Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
    • The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
    • ….as it strives to Exploit its Supplies of Fossil Fuels £19 Billion Gas Pipeline would pass…13 Countries
    • In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • Obituary
    • Sport

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.