BURKINA FASO – The Beyond the Grid Fund for Africa (BGFA) is providing US$2.5 million in funding to Oolu for distribution of solar kits in Burkina Faso.
Oolu Solar is one of the fastest-growing off-grid solar companies in West Africa that provides energy solutions and innovative services which improve the lives of communities and in the region.
The BGFA funding will accelerate the deployment of its electricity access solutions in the Centre, Boucle du Mouhoun, Cascades, Hauts Bassins, South West, Centre East, Centre West, and East regions of Burkina Faso.
According to Oolu, the funds will also be used to expand its operations in rural areas of Burkina Faso.
Like other solar kit providers operating in Africa, the company relies on pay-per-use to make it easier for rural households to purchase its stand-alone electricity access systems.
The company also installs solar systems for commercial and industrial (C&I) customers.
“We are very pleased to announce our first project in Burkina Faso, which will support access to clean energy solutions in several regions of the country and is expected to benefit more than 155,000 people,” says Dennis Hamro-Drotz, the senior program manager at NEFCO, which manages BGFA.
Oolu’s project is expected to run for four years and also aims to provide clean electricity to 560 businesses and institutions such as schools and clinics.
“More than 60% of Burkina Faso’s young and dynamic population does not have access to electricity,” said Maria Sargren, Sweden’s ambassador to Burkina Faso.
“The private sector plays a key role in helping the country achieve its ambitions, including access to sustainable energy.”
The main aim of financial aid to the West African country is to improve access to electricity for the majority of the population.
The West African country has an electricity access rate of only 20% according to Power Africa.
Considerable investments done by the government and international donors are so far insufficient to meet the rising demand in the growing urban centers.
Currently, the Government of Burkina Faso (GOBF) has set forth a bold national plan and has taken steps to introduce legislation to encourage private-sector investment and liberalize electricity generation and distribution.
The National Plan for Economic and Social Development, launched in 2016, seeks to increase Burkina’s electricity access rate from 20% to 80%, doubling the number of customers to 1 million, and increase installed capacity to 1,000 megawatts (MW).
Liked this article? Subscribe to DealStreet Africa News, our regular email newsletter with the latest news, deals, and insights from Africa’s business, economy, and more. SUBSCRIBE HERE
