EIB provides Euro 38.5 million to Burkina Faso for solar power deployment and flood protection

The European Investment Bank (EIB) has announced Euro 38.5 million of new financial and technical support to Burkina Faso for promoting solar power development. The funding will also be used to protect its capital city Ouagadougou from future flooding. Through this financing, the EIB aims to improve energy access in the country and address the risks caused by extreme weather. The solar power plant has a current capacity of 37 MW and is operated by the national electricity authority Sonabel. The EIB financing will help in expanding the capacity of the plant from 37 MW to 50 MW and help in reducing imports.

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