Burkina Faso is moving closer to reducing one of the world’s largest electricity access gaps after Africa Finance Corporation (AFC) reached financial close for funding that will support the country’s largest power plant.
AFC has disbursed the first US$60 million from a US$300 million corporate loan facility to support the development of a 119MW thermal power plant by Aksa Enerji Üretim A.Ş., Türkiye’s largest publicly listed power generation company. In Burkina Faso, where only one in five of the country’s 24 million people has access to electricity, the project is expected to improve power availability.
The new plant is expected to strengthen Burkina Faso’s electricity system. The country currently imports about 60% of its electricity, exposing households, businesses, and industries to supply interruptions and higher energy costs that limit economic activity. Once the plant begins operations in 2027, it is expected to cut electricity imports by more than half while increasing domestic generation capacity. It will also provide more reliable and lower-cost baseload power, improve energy security, encourage private investment, and support long-term economic growth.
The project represents AFC’s first investment in Burkina Faso and reflects the corporation’s continued focus on financing infrastructure across Africa. Expanding access to reliable electricity remains a key part of AFC’s efforts to support industrialization, strengthen economic resilience, and promote sustainable growth.
The financing follows AFC’s US$150 million corporate loan facility to Aksa Enerji in 2025, which supported the company’s gas-to-power projects in Senegal and Ghana. These included a new 255MW combined-cycle gas power plant in Senegal designed to use domestic natural gas and provide more reliable, lower-emission baseload power. The successful delivery of those projects strengthened Aksa’s track record in developing large-scale energy infrastructure across Africa and laid the groundwork for this latest investment.
The transaction reflects AFC’s approach of working with experienced private-sector developers to deliver essential energy infrastructure in countries where electricity shortages continue to limit economic growth.
Samaila Zubairu, president and CEO of AFC, said, “Africa’s path to industrialization and global competitiveness by 2050 depends on the infrastructure decisions we make today. Reliable electricity is fundamental to economic transformation. Without dependable power, countries cannot industrialize, businesses cannot grow, and communities cannot realize their full economic potential. Aksa shares our commitment to delivering the reliable energy infrastructure needed to power Africa’s industrial growth and long-term transformation.”
Cemil Kazanci, Chairman of Aksa Energy, said: “Burkina Faso represents an important milestone in our long-term commitment to Africa. Together with AFC, we are delivering critical energy infrastructure that will strengthen energy security, support economic development, and improve the reliability of electricity supply for millions.”
The investment also supports AFC’s broader objective of strengthening national energy systems through partnerships with experienced private-sector developers delivering large-scale infrastructure projects across Africa.
source: www.africafc.org
African Energy Council