A major power project in Burkina Faso is to proceed after securing a first US$60mn tranche of a US$300mn corporate loan facility from Africa Finance Corporation (AFC)
The funds will support the development of the 119MW thermal power plant by Aksa Enerji Üretim A.Ş., Türkiye’s largest publicly-listed power generation company.
The project is expected to make a huge dent in accss to electricity in Burkina Faso, a country of 24 million people where only one in five currently have access to power.
“Burkina Faso represents an important milestone in our long-term commitment to Africa,” said Cemil Kazanci, chairman of Aksa Enerji.
“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 transaction marks AFC’s first investment in Burkina Faso, but builds on its US$150mn corporate loan facility to Aksa Enerji in 2025, which supported the company’s utility-scale gas-to-power projects in Senegal and Ghana.
This includes Senega’s new 255MW combined-cycle gas power plant designed to use domestic natural gas to deliver more reliable and lower-emission baseload power.
Collectively, these projects have established Aksa as a major partner in delivering large-scale energy infrastructure across Africa.
The Burkina Faso project is expected to transform the nation’s electricity system.
The West African state currently imports 60% of its power supply, leaving homes, businesses and industry vulnerable to supply disruptions and elevated energy costs, constraining industrialisation and economic growth.
Once operational in 2027, the power station will reduce dependence on imported electricity by more than 50% while significantly strengthening domestic generation capacity.
By delivering more reliable, lower-cost baseload power, the project is expected to improve energy security, attract private investment and create a stronger foundation for long-term economic growth, according to the AFC.
Expanding reliable electricity access is a central part of the Corporation’s mission in unlocking sustainable growth across the continent.
“Africa’s path to industrialisation and global competitiveness by 2050 depends on the infrastructure decisions we make today,” said Samaila Zubairu, AFC’s president and CEO.
“Reliable electricity is fundamental to economic transformation. Without dependable power, countries cannot industrialise, businesses cannot grow and communities cannot realise 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.”
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Aksa Enerji gets funding for Burkina Faso power project
AFC reaches financial close on 119MW power plant, Burkina Faso's largest, to help close its electricity access gap (Image source: AFC)
