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The Dutch entrepreneurial development bank FMO and The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, have signed a EUR 17.2 million loan package to finance the 18 MW Dédougou Solar Power Plant near Dédougou in Burkina Faso. FMO arranged the financing and has committed an EUR 11.2 loan and mobilized an EUR 6 million concessional finance package from SEFA to support the project.
The project, developed by Qair, is among the first independent power producers (IPPs) in the country and operates under a 25-year Power Purchase Agreement (PPA) with the Société Nationale d’Électricité du Burkina Faso (SONABEL). The project will contribute to diversifying the country’s energy mix, lowering electricity costs, and increasing the national electrification rate.
Marnix Monsfort, Director of FMO’s Energy Department, said: ‘‘We are pleased to support Qair in advancing with this important project in Burkina Faso. The Dedougou Solar Power Plant is a demonstration of the relentless efforts from SEFA, Qair, and FMO to persist with this project despite the adversities caused by COVID-19. It showcases development finance at its best and is the fourth solar power project arranged by FMO in Burkina Faso.”
Abdoulaye Toure, CFO at Qair Africa, acknowledged FMO’s and SEFA’s support and the project’s advancement: “This new financing from FMO and SEFA marks a significant milestone in Qair’s journey in Burkina Faso. We are deeply grateful to both institutions for their continued trust and support, which enable us to deliver impactful renewable energy infrastructure in the region. After commissioning our first 24 MW solar plant in Zano in 2023, this second project in Dédougou reflects our expanding footprint and aligns with Qair’s long-term strategy to accelerate the energy transition across Africa.”
About Qair in Africa
With more than 15 years presence on the continent, and teams established across North, Central and West Africa as well as the Indian Ocean, Qair operates or builds 85 MW of capacity in Africa and develops a robust pipeline of over 2 GW spanning solar, wind, and hybrid technologies to address the specific challenges of each region.
By combining technical innovation with deep local engagement, Qair aims to deliver clean, affordable, and reliable electricity while fostering local employment, training, and sustainable economic growth across the continent. More information on Africa.qair.energy
ABOUT Qair
Qair is an independent renewable energy company developing, financing, building, and operating solar, onshore and offshore wind, hydroelectric, tidal energy, waste-to-energy, battery storage and green hydrogen production. With 1.7 GW of capacity in operation or construction, the group's 780 employees are developing a portfolio pipeline of 34 GW in 20 countries across Europe, Latin America and Africa. More information on qair.energy
ABOUT SEFA
SEFA is a multi-donor Special Fund that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency. SEFA offers technical assistance and concessional finance instruments to remove market barriers, build a more robust pipeline of projects and improve the risk-return profile of individual investments. The Fund’s overarching goal is to contribute to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the New Deal
on Energy for Africa and the M300.