The Minister of Energy, Mines, and Quarries, Bachir Ismael Ouédraogo, presided this Tuesday, June 29th, 2021 in Ouagadougou, the opening ceremony of the workshop of exchanges with private sector actors on the opportunities of solar energy in Burkina Faso. During the work, the Department of Energy intends to collect proposals from stakeholders to better capitalize on investments that will be made in the field of solar energy.
It is recognized that Burkina Faso has the best sunshine in West Africa. However, this energy potential is not sufficiently exploited by the country of men of integrity. Aware of this and driven by the desire to change things, the government now intends to focus on solar energy to compensate for the energy deficit and overcome the load shedding that Burkina Faso is experiencing.
“Burkina has a huge potential in terms of solar energy. The government has the vision and under the leadership of President Roch Marc Christian Kaboré, we decided to resolutely embark on the path of solar energy. This makes Burkina Faso the champion in the sub-region in this area,” said Minister Ismael Bachir Ouédraogo.
To achieve this, the government needs the participation of private sector actors operating in the field of solar energy. “We have capitalized about 500 megawatts of solar investment. We give the vision, the mechanism, we facilitate things but it is the private sector that is in the realization. It was good that we could exchange together to see how the Burkinabe private sector will take the best advantage of this boom in solar energy. That’s why we got together because there is no better interlocutor than them to enable the establishment of mechanisms to enable the private sector of Burkina Faso to take advantage of this windfall, “said Bachir Ismael Ouédraogo.
Read more on the subject and find the latest economic news from around the world with the Born2Invest mobile app.
Private sector actors are committed to accompanying the government in its new vision
The presence of the private sector alongside the government also aims, according to the head of the energy sector, to enable it to get the best out of the investments that will be made in the sector. “We must be well prepared so that the investments we are going to have can be capitalized in Burkina Faso and we must be able to accompany them to make the transformation on the local level,” said the Minister of Energy.
Burkina Faso now has the first solar panel assembly plant in the sub-region. For Bachir Ouédraogo, in addition to this factory, the country must have an assembly unit for meters, electric cables and other materials used in the energy sector. “If you manufacture meters in Burkina, Sonabel will buy them, if you manufacture cables we will buy them. The Burkinabe private sector must be able to benefit from investments,” he added before concluding: “If we do not have mechanisms to support these factories that are being created, we will always be buying from outside. The debts that we will incur will go back the same way.
The representatives of the banking sector and the private sector said they were ready to accompany the government in this vision whose goal is to allow the actors of the field to take better advantage of the investments.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in lefaso.net, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Cepsa Plans to Build a Hydroproduct to Import Hydrogen from Morocco
According to Cepsa's chief executive, the industry needs a hydrogen price of between $2 and $2.5 and around $3 or...
Same Old, Same Old Crummy Market
But these are little issues compared to the performance difference between the stock market and commodities seen since November 2021. Has...
Stock Markets Have Definitely Seen Better Days
It has been the worst start since 1939. Yes, we have to go back that far to find a year...
What is the Best Social Media for Your Business?
It’s time to dispel the myth of the “best social media for business”. Learn more about the demographic data behind...
Amateur Sports Leagues Win Big as FOXD Network Partners With CXSports
Aimed squarely at amateur and semi-professional sports leagues and teams, sports broadcaster FOXD Network has just partnered up with CXSports....
Cannabis2 weeks ago
The Global CBD Gummies Market Will Reach $12 Billion by 2028
Featured2 weeks ago
Understanding the Fed’s Rate Hike: the Long Term Goal of 2.0% Inflation
Featured2 weeks ago
Why Rice Supplies Are Tight and Demand Is Holding Together
Cannabis2 weeks ago
Why the Cannabis Market Has Growing Investment Prospects