The International Finance Corporation (IFC) has partnered with the Burkina Faso government and various energy companies to drive the deployment of renewable energy and battery energy storage systems.
In partnership with the Ministry of Energy and national utility, Société Nationale d’Electricité du Burkina (SONABEL), the IFC has developed a roadmap for increased rollout and use of clean energy and storage systems.
By increasing private-public partnerships within the sector, the IFC states that Burkina Faso has the potential to increase renewables capacity in its energy mix for energy security, sustainability, affordability and decarbonisation.
The bank states that the African state could save between $1.5 million and $3.3 million per annum by installing 60-70MW (160-220MWh) of independent battery energy storage solutions.
In addition, the development could help reduce reliance on fossil fuels and energy imports whilst improving access to affordable energy to those living in energy poverty.
According to the International Renewable Energy Agency, energy storage deployment in emerging markets is expected to increase by over 40% annually from 2020 until 2025.
With liquified petroleum gas (LPG) company Sodigaz, the IFC seeks to improve access to cleaner energy solutions for the Burkina Faso population.
The IFC will work together with Sodigaz to increase solar home kit sales and introduce solar mini-grid solutions.
The IFC will assist Sodigaz to increase its distribution of LPG and the number of service stations to enable consumer switches from firewood, charcoal and other higher carbon fuels that dominate the domestic market.
This is in turn expected to help Burkina Faso to reduce its greenhouse gas emissions.
