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IFC to assess the potential for private energy storage solutions in Burkina Faso


In Ouagadougou
Henri Mensah        

Phone: +221 78 639 8673
E-Mail:
LMensah@ifc.org


Ouagadougou, Burkina Faso, February 24, 2020 – IFC, a member of the World Bank Group, signed an agreement with Burkina Faso’s Ministry of Energy to assess how private investment in energy storage can contribute to higher levels of solar power production while enhancing grid stability and dispatch issues. This assessment will lead to the definition of a storage investment roadmap based on PPP models in Burkina Faso. It will be jointly supervised by IFC, the Ministry of Energy and the grid utility Société Nationale d’Electricité du Burkina (SONABEL).

Under this agreement, IFC will assess the economic benefits of storage to integrate solar capacities to the grid and decrease the overall generation costs, review the country’s legal and regulatory frameworks and compare private and public storage project development and financing models. IFC will also provide recommendations regarding various aspects of Public Private Partnerships in energy storage, based on a review of international best practices.

“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’s power sector is characterized by a high reliance on expensive thermal capacities and imports. While the target is to achieve universal access to electricity by 2025, the country’s present electrification rate is approximately 20 percent. The Burkinabe government 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.

About IFC:
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work with more than 2,000 businesses worldwide, using our capital, expertise, and influence to create markets and opportunities where they are needed most. In fiscal year 2019, we delivered more than $19 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org

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