With a view to bring together all stakeholders of the African country's solar energy supply chain, the National Agency for Renewable Energy and Energy Efficiency (ANEREE) in Burkina Faso has launched what it calls Cluster Solaire-Burkina Faso or Solar Cluster.
This cluster will be open to local entrepreneurs such as solar energy producers, importers, traders, public and private utilities, NGOs and associations in the field to help them develop technical and financial capability at the domestic and global level.
ANEREE is being supported in the implementation of this initiative by the Green Climate Fund (GCF) by facilitating the mobilization of financial resources internationally. Funds will be made available through the West African Development Bank (BOAD).
Sharing details of the initiative, Afrik21 reported that BOAD will offer 4% to 5% preferential rates for 15-year loans to local companies for their solar projects. The objective is to reduce risk for project developers and mobilize commercial and public banks to scale up their investments in solar.
ANEREE will prepare a database of all players in the field by registering them while also offering to train them and facilitate their access to local and international markets.
In February 2020, the country's Ministry of Energy secured an agreement with the International Finance Corporation (IFC) to explore solar and energy storage.