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Burundi’s president Ndayishimiye attends an event to visit first utility-scale solar plant in Mubuga. The event embraced many high-profile diplomats including United States ambassadors and announcements on the intentions to double capacity were made. “We celebrate economic and climate progress in Burundi, which is open to direct foreign investment to catalyze economic growth for our people.” The president lauded while inviting international partners to assist Burundi in solar power generation capacity. Built through a multinational effort, the pioneering 7.5 MW solar PV plant near Mubuga has been in operation since May 2021. The First Utility-Scale Solar Plant provides over 10% of Burundi’s electricity, supplying clean power to thousands of homes and businesses. The plant supports international efforts to surge renewables and climate investment, especially for the world’s most vulnerable communities. Sources of Finances for the construction of First Utility-Scale Solar Plant Gigawatt Global, REPP, Inspired Evolution and DFC are among the international partners who currently help Burundi in development projects. Burundi has a fertile soil for coffee and tea farming and further an industrious population thus requires much assistance in achieving their full potential. Therefore, this solar field project will highly ensure energy security reliable for agro-business. Green energy developer and independent power producer for Africa, Gigawatt Global oversaw six-year creation of Burundi’s first solar power plant. Sponsoring for the construction of the project was delivered via a consortium including pan-African private equity investor. Additionally, Inspired Evolution via its Evolution II Fund,Renewable Energy Performance Platform (REPP – managed by Camco), and Gigawatt Global also contributed. Political risk insurance and refinancing of construction debt is led by the US International Development Finance Corporation (DFC). |
