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In Burkina Faso, utility SONABEL and the Ministry of Energy have partnered with the International Finance Corporation (IFC) to accelerate private finance in energy storage and solar projects.

The three parties will assess how private investment in energy storage can contribute to higher levels of solar power production while enhancing grid stability and dispatch issues.

By so doing, will create an energy storage investment roadmap based on PPP models in Burkina Faso.

The IFC will be responsible for assessing the economic benefits of storage, how to decrease the overall generation costs, review the country’s legal and regulatory frameworks and compare private and public storage project development and financing models.

“This assessment is an important step to help successfully integrate a larger amount of solar power into the country’s energy mix, as planned by the government,” said Ronke-Amoni Ogunsulire, IFC’s Country Manager for Burkina Faso, Benin, Ghana, Niger and Togo.

Burkina Faso has set a target to achieve universal access to electricity by 2025, the country’s present electrification rate is approximately 20% and has launched an ambitious renewable energy strategy to valorize large available solar resources and decrease both electricity generation costs and exposure to oil price fluctuations.

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