Burkina Faso: EIB loan for 30MW Zagtouli solar plant under appraisal
Issue 266
- 25 Nov 2013
| 2 minute read
The European Investment Bank is considering a €23m ($31m) loan to the Société Nationale d’Electricité du Burkina (Sonabel) for the construction of a 30MW photovoltaic solar plant at Zagtouli, in the outskirts of Ouagadougou (AE 230/9). This amount represents about one third of the total cost of the project which is also financed by a €25m grant from the European Commission announced last April in Brussels after a meeting between minister of mines and energy and former Sonabel CEO Salif Kaboré, and EU Development Commissioner Andris Piebalgs. The Agence Française de Développement is contributing a concessional loan of €19m. According to the Ministry of Mines and Energy, construction work should begin in 2014 and the plant should be operational by 2015.
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