Energy company Sodigaz secures US$13m financing from IFC to boost access of clean energy

BURKINA FAS0 – The International Finance Corporation (IFC) a member of the World Bank group, has announced a €12.4 million (US$13m) financing package for energy company Sodigaz, to boost access to cleaner and more reliable energy in Burkina Faso. IFC’s support will help Sodigaz increase the distribution of liquified petroleum gas (LPG) to underserved rural households across Burkina Faso and…

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Guinea, Burkina Faso receive US$24m support from IFC under new partnership with Vista Bank

WEST AFRICA – The International Finance Corporation (IFC), through its Global Trade Finance Program (GTFP), has partnered with Vista Bank, which serves clients across West Africa with a wide range of financial services, to increase the availability of trade finance in Guinea and Burkina Faso and support imports of essential goods into the countries. As part of the agreement, Vista…

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AMEA Power closes financing for its Zina solar power plant in Burkina Faso

BURKINA FASO – UAE-based independent power producer (IPP) AMEA Power, has reached a financial close on the Zina solar power plant in Burkina Faso, with an installed capacity of 26.6MW. The solar plant is being built by Zina Solaire, a project company fully owned by AMEA Power. The project is being implemented in a public-private partnership (PPP) with the government…

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BGFA finances US$2.5 million for the distribution of Oolu’s solar kits in Burkina Faso

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…

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AfDB and IFAD formalizes financing agreement to promote agricultural sector in Burkina Faso

BURKINA FASO – The African Development Bank and the International Fund for Agricultural Development (IFAD) have signed an agreement for the funding of the Léraba Plain Management and Development Project (PAVAL). The agreement was signed by Ms. Hassatou Diop N’Sele, Acting Vice-President in charge of Finance, on behalf of the AfDB Group, and by Mr. Donal Brown, Assistant Vice-President in…

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Africa REN starts construction for 38MW Burkina Faso solar project

BURKINA FASO – West Africa-focused renewable energy independent power producer, Africa REN, has commenced construction for the 38 MW Kodeni Solar power plant in Burkina Faso after reaching financial close. Once completed, the renewable energy facility will be the largest solar power plant in the West African country. The plant is scheduled to be commissioned in August 2022 and Kodeni Solar plant…

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GreenYellow SAS secures US$5m from MIGA for construction of 30MWp solar PV energy facility

BURKINA FASO – Multilateral Investment Guarantee Agency (MIGA), an international financial institution, has issued a guarantee for US$5.19 million to GreenYellow SAS of France, a renewable energy company. The funding will cover GreenYellow’s equity and quasi-equity investments into Société de Production d’Energie Solaire de Ouagadougou SAS (SPES Ouagadougou) for a period of up to 20 years. The SPES Ouagadougou project…

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IFC partners Sodigaz to boost access to cleaner energy solutions

BURKINA FASO – The International Finance Corporation (IFC) and Sodigaz, an energy company, have announced an agreement to boost access to cleaner energy solutions for thousands of households and businesses in Burkina Faso.  Under the agreement, IFC’s Advisory Services team will support Sodigaz to upgrade and expand its liquified petroleum gas (LPG) distribution and service stations, increase solar home kit…

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Burkina Faso secures US$69m from AfDB to finance access to electricity in peri-urban areas

BURKINA FASO – The African Development Bank (AfDB) has approved a new €59.43 million (US$69.63m) loan to Burkina Faso to finance access to electricity for 218,400 households in peri-urban and rural areas. The financing granted by the African Development Bank (AfDB) is intended to accelerate access to electricity in Burkina Faso through two government-led projects. These are the Electrification and…

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Amethis divests its minority stake in Sodigaz APC to AIIM

BURKINA FASO – Amethis, an investment fund manager, has announced the sale of its minority stake in Sodigaz APC to African Infrastructure Investment Managers (AIIM). Sodigaz APC is the leading gas bottle (LPG) distributor in Burkina Faso with a market share exceeding 60% and a unique distribution network of 2,200 gas resellers. Created in 1977 by Amidou Bolly, Sodigaz APC…

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