FMO, the Dutch development finance institution, has committed €11.2 million in financing to support the development of a solar energy project in Burkina Faso. The funding, sourced from FMO’s Building Prospects Fund, is designed to catalyze sustainable infrastructure in emerging markets and is expected to mobilize an additional €6 million in concessional capital from the African Development Bank’s Sustainable Energy Fund for Africa (SEFA).
The recipient of the loan is Dédougou Solaire, a special purpose vehicle (SPV) established specifically for the project. The SPV is jointly owned by MIHIA Holding (70%) and Syscom Network (30%). MIHIA Holding itself is a strategic joint venture formed in 2021 between Qair International, a global renewable energy developer, and STOA, a French investment fund focused on infrastructure and energy in emerging economies. Qair holds a 51% stake in MIHIA, while STOA owns the remaining 49%.
The combined debt package of €17.2 million will finance the €20.7 million development, construction, and operation of an 18-megawatt peak (MWp) solar photovoltaic plant located in Souri, near the town of Dédougou in western Burkina Faso. This project represents a significant step toward improving energy access in a country where electrification rates remain among the lowest in West Africa.
Once operational, the solar farm is expected to deliver cleaner and more affordable electricity, replacing reliance on expensive thermal generation and imported power. The initiative aligns with Burkina Faso’s national energy strategy, which aims to diversify its energy mix and reduce carbon emissions while expanding access to reliable electricity for households and businesses.
The Dédougou Solaire project is not only a boost for renewable energy in Burkina Faso but also a model for blended finance in Africa. By combining commercial and concessional funding, the project demonstrates how public and private capital can work together to unlock sustainable infrastructure in underserved regions.
This investment also reflects FMO’s broader commitment to climate resilience and inclusive development. Through its Building Prospects Fund, FMO targets high-impact projects that stimulate economic growth, create jobs, and improve living standards in frontier markets.
