EU lender the European Investment Bank (EIB) today announced plans to finance the expansion of a grid scale solar plant in Burkina Faso and to deepen renewable energy work with the Croatian government.
The EIB will provide a €38.5 million long-term loan towards the cost of a €70.5 million project to expand the generation capacity of the first solar plant installed by Burkina Faso's national electric utility, from its current 37 MW to 50 MW. The solar farm was built by Société Nationale d'électricité du Burkina Faso (Sonabel).
Burkina Faso depends in part on power imports from southwestern neighbor Côte d'Ivoire.
The EIB also announced the signing of a memorandum to work more closely with Croatia's Ministry of Economy and Sustainable Development on matters including clean energy generation and transmission infrastructure, green mobility and moving to a circular economy.
The latest developments come after the EU lender on Monday said it had signed a €100 million R&D finance agreement with Spanish electric company Iberdrola which will help drive innovation related to solar power plants, e-mobility and green hydrogen.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.