The World Bank has approved funding of $ 168 million for Burkina Faso’s efforts to increase access to electricity in rural areas and support the country’s transition to clean energy.
$ 75 million of this funding comes from the International Development Association, while $ 93 million comes from the Clean Technology Fund through the Sustainable Renewables Risk Mitigation Initiative.
Maimoun Mbow Fam, World Bank Country Director for Burkina Faso, said the new project is fully in line with the Bank’s Sahel strategy to double electricity tariffs by 2025. Their efforts are particularly aimed at rural areas and create the conditions for more private financing in the energy sector. .
âThe project supports the energy policy of the government, which has sought for years to promote a hybrid system of energy production, including solar energy.
The Solar Energy and Access Project in Burkina Faso (SEAP) aims to improve access to solar energy and increase the mobilization of private finance to increase access to electricity. The project will support the electrification of around 300 selected rural localities and the connection to modern and reliable electricity services. about 120,000 households, micro, small and medium enterprises and community facilities such as schools and health centers.
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The Project will also finance key investments to strengthen the grid and integrate solar generation and distribution during peak demand. It will also facilitate the competitive supply of 325MWp of solar energy with 335MWh of battery storage to be developed in phases, with an initial phase of 120MWp and 120MWh of battery storage to be launched in summer 2021.
Alexis Madelain, head of the World Bank task force, said the new operation will help Burkina Faso mobilize more than $ 400 million in private investment in solar generation and an innovative battery storage system. âIt will also increase the country’s solar potential, reduce electricity supply costs and thus expand access to electricity services in rural areas, without increasing recurrent subsidies for the sector.