The “Cluster Solaire – Burkina Faso” programme was launched on July 3, 2020 by the National Agency for Renewable Energy and Energy Efficiency (Aneree) of Burkina Faso. It is a broad and well-structured network that will enable local entrepreneurs (producers, importers, traders, public and private utilities, NGOs and associations) in the solar energy chain in Burkina Faso to have not only the necessary technical capacity, but also a certain financial facility to take part in international competitions. According to the Agency for Energy and Energy Efficiency (Aneree), the “Cluster Solaire” programme will also enable Burkina Faso to take a giant step towards its goal of producing 30% of its electricity from solar energy by 2025-2030.
Currently, Burkina Faso’s electricity access rate is only 21%, despite the fact that the country has enormous solar potential and one of the largest photovoltaic solar power plants in the West African sub-region with an estimated annual capacity of 56 GWh/h.
The Green Climate Fund (GCF), the financial mechanism of the United Nations Framework Convention on Climate Change, supports Burkina Faso’s energy agency in the implementation of the Solar Cluster Programme, facilitating the mobilisation of financial resources at the international level. The funds are thus available from the West African Development Bank (BOAD). Local companies in the solar energy sector will be able to benefit from them. “The financial institution will enable local companies to be eligible for loans for their projects in the renewable energy sector, with preferential rates of 4% to 5% for 15-year maturities”, explains Bachir Ismaël Ouédraogo, the Burkinabe Minister of Energy.
A mixed financing approach will be used to provide affordable long-term financial support for solar projects. These loans will help companies reduce risk and involve commercial and public banks in scaling up solar investments.
Inès Magoum