AfDB-managed fund grants $1m to support Burundi solar-hydro hybrid project
The SEFA grant, which is instrumental in assuring project bankability, will support technical feasibility, environmental and social impact assessment and financial advisory for the project.
Upon completion, the project will also electrify about 20,000 households in surrounding communities through a local distribution network. By enhancing access to electricity, the project will also generate socio-economic benefits especially for women and small and medium-sized enterprises (SME).
Increased private sector participation
“In addition to the energy access and socio-economic benefits, with the strong government support, this innovative project will pave the way for increased private sector participation in renewable energy to diversify the energy mix in Burundi,” said Wale Shonibare, AfDB's acting vice-president for Power, Energy, Climate, and Green Growth.
Welcoming SEFA’s support, Daniel Brose, president and CEO of Songa Energy Burundi said, “We are privileged to have secured this funding which is instrumental to the further development of our portfolio. This funding will bring us and the people of Burundi one step closer to our collective goal of widespread rural electrification in a country that has one of the lowest rates of access to electricity in the world."
