Burkina Faso is set to significantly strengthen its electricity sector after the Africa Finance Corporation (AFC) reached financial close for the financing of what will become the country’s largest power plant. The project is expected to play a crucial role in improving electricity access in a nation where only around one in five people currently have access to power.

AFC has successfully disbursed the first tranche of US$60 million from a total US$300 million corporate loan facility to support the development of a 119 MW thermal power plant. The project is being developed by Aksa Enerji Üretim A.Ş., Türkiye’s largest publicly listed power generation company. This marks AFC’s first investment in Burkina Faso and reflects its commitment to supporting major infrastructure projects across Africa.

Burkina Faso currently depends heavily on electricity imports, with nearly 60% of its power supply coming from neighbouring countries. This dependence has made the country’s electricity system vulnerable to supply disruptions while also increasing energy costs for households, businesses, and industries. The shortage of reliable electricity has remained a major challenge for economic growth and industrial development.

The new 119 MW power plant is expected to become operational in 2027. Once completed, it is projected to reduce the country’s dependence on imported electricity by more than 50%. The facility will also strengthen domestic electricity generation capacity and provide a more stable supply of baseload power. Improved electricity reliability is expected to support industrial activities, attract private investment, and create better conditions for long-term economic development.

The financing also builds on AFC’s existing partnership with Aksa Enerji. In 2025, AFC provided a US$150 million corporate loan facility to support the company’s gas-to-power projects in Senegal and Ghana. That financing included the development of a new 255 MW combined-cycle gas power plant in Senegal, designed to operate using domestic natural gas while delivering reliable and lower-emission electricity. The successful implementation of those projects helped establish Aksa Enerji as a trusted developer of large-scale energy infrastructure across Africa.

According to AFC, the latest investment reflects its strategy of working with experienced private-sector companies that can deliver critical energy infrastructure in countries facing significant electricity shortages. Reliable power remains a key requirement for industrialisation, economic resilience and sustainable growth across the continent.

Samaila Zubairu, President and Chief Executive Officer of AFC, said that Africa’s future industrial growth depends on the infrastructure investments made today. He noted that dependable electricity is essential for countries to industrialise, businesses to expand, and communities to improve their economic opportunities. He added that AFC and Aksa Enerji share a common goal of developing reliable energy infrastructure to support Africa’s long-term transformation.

Cemil Kazanci, Chairman of Aksa Energy, described the Burkina Faso project as an important milestone in the company’s long-term commitment to Africa. He said the partnership with AFC will help strengthen the country’s energy security, support economic development, and improve electricity reliability for millions of people. The project further supports AFC’s broader objective of expanding national energy systems and promoting sustainable industrial development across Africa.