Qair and STOA launch renewable energy investment platform in Africa

(Ecofin Agency) – In Africa, the development of the continent’s significant renewable energy resource is slowed down, among other things, by the lack of funding. To achieve this, many initiatives are emerging over time, led by players such as Qair and its partner STOA.

French renewable energy producer Qair and investment fund STOA are providing Africa with a new common platform for investing in renewable energy initiatives.

The platform called Make It Happen In Africa (MIHIA) will be mainly devoted to solar, wind, hydroelectric, waste recovery and energy storage projects. Its main mission will be to develop a sustainable energy mix in African countries.

MIHIA has already undertaken to support a first 24 MW solar project in Burkina Faso. This photovoltaic solar power plant will be installed in the village of Zano in the department of Tikare, in the north of the province of Bam. It will be commissioned in the second half of 2022.

The Zano plant will have 54,500 photovoltaic panels which will produce 48,000 MWh of electricity per year. Its annual production will supply nearly 75,000 local households. The project is developed in partnership with the Burkinabé company Syscom Network.

The MIHIA platform will be majority owned by Qair, with a 51% stake. The remaining 49% will be held by STOA. This fund was created by the Caisse des Dépôts et Consignations (CDC) and the French Development Agency (AFD).

Gwladys Johnson Akinocho

Read also:

03/31/2021 – Chad: Qair is developing two 30 MW solar power plants in N’Djamena

Source

Qair STOA launch renewable energy investment platform Africa

 
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