The Africa Finance Corporation (AFC) has completed a $300 million corporate loan agreement to support the construction of a 119-megawatt thermal power plant in Burkina Faso by Turkish energy company Aksa Enerji Üretim A.Ş.
As part of the financing, AFC has released an initial $60 million, marking its first-ever investment in Burkina Faso.
The power plant is expected to begin operations in 2027 and will become the country’s largest electricity generation facility. Once completed, it is projected to reduce Burkina Faso’s reliance on imported electricity by more than half.
The project is aimed at addressing major challenges in the country’s energy sector. Burkina Faso currently imports nearly 60% of its electricity from neighbouring countries, making it vulnerable to supply interruptions and rising energy costs. In addition, only about one in five citizens has access to electricity, limiting industrial growth and economic development.
By increasing domestic power generation, the new facility is expected to provide stable electricity for industries, mining operations, and businesses while strengthening the country’s energy infrastructure.
The investment also reflects Burkina Faso’s ongoing efforts to improve economic resilience through infrastructure development. Since joining the Alliance of Sahel States (AES) with Mali and Niger, the country has focused on expanding investments in energy, mining, and other strategic sectors to reduce dependence on external resources.
Reliable electricity is expected to boost the competitiveness of industries such as mining and manufacturing while encouraging greater private-sector investment.
The financing further strengthens AFC’s partnership with Aksa Enerji. In 2025, the corporation provided a $150 million loan to support the company’s gas-to-power projects in Senegal and Ghana, including a 255-megawatt combined-cycle gas power plant in Senegal.
AFC President and Chief Executive Officer Samaila Zubairu said reliable power infrastructure is essential for Africa’s industrial development and long-term economic competitiveness. Aksa Energy Chairman Cemil Kazanci described the Burkina Faso project as an important milestone that will improve the country’s energy security and contribute to sustainable economic growth.
