Latest news with #BurkinaFaso
Zawya
2 days ago
- Business
- Zawya
Desert-to-Power: The Sustainable Energy Fund for Africa (SEFA) commits €6 million to Dédougou Solar Project in Burkina Faso
The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank ( has committed a €6 million concessional finance package for the development of the 18 MW Dédougou Solar Power Plant in Burkina Faso, marking a significant milestone towards increasing the country's energy generation capacity. SEFA's commitment comprises a €2.5 million senior concessional loan and a €3.5 million reimbursable grant, complemented by a combination of subordinated and senior loans from the Dutch Entrepreneurial Development Bank (FMO). This commitment was formalized during a signing ceremony in Paris on July 18th, bringing together stakeholders from the African Development Bank, FMO, project developer Qair, and advisors A&O Shearman and Trinity. The Dédougou Solar Power project aligns with the African Development Bank-led Desert-to-Power initiative, which aims to turn the Sahel region into the world's largest solar power zone. It is listed as a priority project in Burkina Faso's national Desert-to-Power roadmap. It is among the first independent power producers (IPPs) in the country and operates under a 25-year Power Purchase Agreement with the national utility, Société Nationale d'Électricité du Burkina Faso (SONABEL). "The Dédougou Solar PV project marks a significant milestone for Burkina Faso and the broader Sahel region,' said Dr. Daniel Schroth, the Bank's Director for Renewable Energy and Energy Efficiency. As a key contribution to the Desert-to-Power initiative, it demonstrates the transformative nature of harnessing solar energy to drive inclusive and sustainable development. The catalytic support from SEFA was instrumental in unlocking this private sector-led project.' Once operational, the plant will help diversify Burkina Faso's energy mix, reduce electricity costs, and boost access to reliable, affordable electricity, supporting economic growth and local livelihoods. The project prioritizes sustainability through a comprehensive Environmental and Social Management System, ensuring responsible operations and mitigating potential environmental and social risks. "This new financing from FMO and SEFA marks a significant milestone in Qair's journey in Burkina Faso,' said Abdoulaye Toure, CFO of Qair Africa. '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." With committed support from SEFA and FMO, the Dédougou Solar Power Plant demonstrates the potential for private-sector-led future renewable energy projects in the Sahel region, accelerating the transition towards sustainable power, fostering economic growth, and enhancing the quality of life for communities across Burkina Faso. Distributed by APO Group on behalf of African Development Bank Group (AfDB). Media contact: Communication and External Relations Department African Development Bank Group media@ 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. 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.
Washington Post
2 days ago
- Washington Post
Bus accident in Ivory Coast kills at least 16 people, officials say
ABIDJAN, Ivory Coast — A collision between a long-distance bus and a dump truck in Ivory Coast has killed at least 16 people and injured more than 50, the Transportation Ministry said. The bus was traveling from the southwestern Ivory Coast city of San Pedro to the neighboring country Burkina Faso when it collided with the dump truck Sunday evening, the ministry said.
Associated Press
2 days ago
- Associated Press
Bus accident in Ivory Coast kills at least 16 people, officials say
ABIDJAN, Ivory Coast (AP) — A collision between a long-distance bus and a dump truck in Ivory Coast has killed at least 16 people and injured more than 50, the Transportation Ministry said. The bus was traveling from the southwestern Ivory Coast city of San Pedro to the neighboring country Burkina Faso when it collided with the dump truck Sunday evening, the ministry said. The accident killed 16 people and injured 51 who were taken to a regional hospital, the ministry said late Sunday evening. It said that the ministry had opened an investigation into the circumstances of the accident. Ivory Coast has one of the world's highest rates of road deaths, with about 21 per 100,000 people, according to the United Nations. Ivory Coast's Transportation Ministry says at least 1,000 people annually are killed in road crashes in the country. Last December, a collision between two minibuses killed 26 people and injured 28.
Yahoo
2 days ago
- Business
- Yahoo
National Bank Lifts IAMGold (IAG) PT to C$16 From C$15
IAMGOLD Corporation (NYSE:IAG) is one of the cheap Canadian stocks to buy now. Earlier on June 24, National Bank increased its price target for IAMGold from C$15 to C$16, while maintaining an Outperform rating on the shares. This showed a positive outlook on the company's stock performance. In Q1 2025, the company showed attributable gold production of 161,000 ounces. Cash costs were $1,459 per ounce, and all-in sustaining costs reached $1,908 per ounce. Mine site free cash flow increased to $140 million in Q1 2025, up from $46 million in Q1 2024. The company reported revenue of $477.1 million from the sale of 174,000 gold ounces. A closeup view of a large gold mine, illustrating the company's gold properties. IAMGold delivered 37,500 ounces under gold prepay arrangements in Q1 2025, with 25,000 ounces remaining as of April this year. The average realized gold price, which includes the impact of gold prepays, was $2,731 per ounce, rising to $2,909 per ounce when excluding this impact. Production from Cote Gold was 73,000 ounces (on a 100% basis), Westwood produced 24,000 ounces, and Essakane contributed 86,000 attributable ounces. IAMGOLD Corporation (NYSE:IAG) is a gold producer and developer in Canada and Burkina Faso. While we acknowledge the potential of IAG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
2 days ago
- Politics
- Yahoo
Ghana deploys soldiers to quell northern chieftancy dispute
By Emmanuel Bruce ACCRA (Reuters) -Ghana has deployed more soldiers to a northeastern region where a long-running conflict over chieftancy has fuelled recent violence, including attacks on schools, a spokesperson for President John Dramani Mahama said. The Bawku chieftaincy conflict, which goes back decades, has remained one of Ghana's most protracted ethnic flash points, often resulting in violent clashes and loss of lives. It is rooted in a dispute between the Mamprusi and Kusaasi ethnic groups over who can appoint a chief for the area. Mediation efforts by Otumfuo Osei Tutu II, known as the Asantehene, Ghana's most revered traditional ruler, had "almost brought finality to the conflict" but recent killings have "necessitated drastic actions" to control it, presidential spokesperson Felix Kwakye Ofosu said in his statement on Sunday. Violence in the area last week included the killing of a Kusaasi chief as well as three high school students by gunmen who stormed their campuses, according to local media reports. Ofosu did not specify on Sunday how many additional soldiers were being deployed to the area near the border with Burkina Faso. Some soldiers were already present in the area, but officials have not disclosed details. In a separate statement, Ofosu said a curfew would be in place from 1400 GMT until 0600 GMT "until further notice". He said the measure would help restore order and facilitate the evacuation of students. Solve the daily Crossword
