January 23 (Renewables Now) - The 7.5-MW solar photovoltaic (PV) project in Burundi is about to go under construction, its co-financier, the Renewable Energy Performance Platform (REPP), informed on Thursday.
The project was developed by Gigawatt Global Cooperatief UA, an American-owned Dutch independent power producer (IPP), in a public-private partnership with the Burundi government.
UK government-funded REPP has been championing the project since December 2016 when it provided development capital. It has also pledged to provide a construction bridge loan, part of which will be refinanced as a ten-year subordinated loan.
Africa-focused energy infrastructure investor Inspired Evolution Investment Management, through its Evolution II Fund, will provide a matching construction loan and equity investment.
Burundi’s new solar park will be built in Mubuga, in Gitega province, and create 300 part-time jobs during the construction stage.
Once it starts generating electricity, the facility's output will be purchased by Burundi's state-owned utility Regie de Production et Distribution d'Eau et d'Electricite (Regideso), which will be able to supply power to around 87,600 people and businesses.