EIB provides US$46m debt to photovoltaic park in Burkina Faso, increasing power generation capacity

BURKINA FASO – The European Investment Bank (EIB) has announced EUR 38.5 million (US$46.6m) in debt for a project that will lift by a third the power generation capacity of a 37-MW solar park in Burkina Faso. The photovoltaic (PV) park is being operated by Burkina Faso’s national electric utility Sonabel, the lender said. The utility has committed to invest EUR 70.5 million (US$85.39m) in an expansion scheme that aims to raise the capacity of the plant to 50 MW and thus help it response to the 10% annual increase…

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