BOAD helps finance Burkina Faso's Solar Cluster plan

Burkina Faso has launched a ‘Solar Cluster’ initiative to establish a domestic PV industry and promote energy efficiency. 

The program, introduced by the Agence Nationale des Energies Renouvelables et de l’Efficacite Energetique (ANEREE), is backed by the UN’s Green Climate Fund, which will help the renewables body access international finance

Funds will be provided in part via the West African Development Bank (BOAD), in the form of loans with favorable conditions for companies in the landlocked nation. The Solar Cluster program will adopt a mixed approach to financing, though, to offer long-term financial backing for PV projects, ANEREE said.